On July 24, Switcheo announced on its blog, the listing of five new DeFi tokens. Aave (LEND) is among the tokens that were listed on the platform.
Aave is notably fast-developing compared to the other tokens as LEND was recently listed on Loopring trading against ETH and USDT.
Aave’s Recent Advancements
The network announced on July 16 the introduction of interesting features for users to enhance their experiences on the platform. Among them were new asset listings, new risk parameters, and Fiat to Yield feature.
According to Aave, the formulation and delivery of projects is a crucial part of the Ethereum network. Enjin and REN are two assets that the platform embraced, encouraging expansion in their scope of work into gaming, NFTs, and “BTC onramp.”
All the same, the Fiat to Yield feature is the most exciting of all. A partnership with Consensys and Ramp to introduce Transak. Transak is an onramp solution, which will enable users to buy tokens listed on Aave app without leaving it. It will take a few minutes to acquire the tokens using a debit card or 1-2 days using wire transfer. Additionally, users will have access to KYC. Users can also buy DAI and LINK directly and equivalent direct deposits, facilitating a one-click Fiat to Yield situation.
Could the Recent Partnerships Propel LEND Prices?
Aave has also collaborated with Framework Ventures and Three Arrows Capital to aid in developing their DeFi systems. The two companies will inject liquidity into the network and facilitate its growth.
According to Stani Kulechov, Aave continues to grow after its launch at the beginning of 2020. Its focus on innovations and risk management captured Framework Ventures and Three Arrows Capital’s focus. He is positive that the two companies will help with the scalability of its system, creating more advantages for the community.
Currently, the feedback of the two companies is welcome for their plans to transcend from $LEND to $AAVE. The network will incorporate staking, liquidity, and new smart contracts in the process. They will actively participate in submitting and voting for Aave Improvement Proposals for protocol governance.
Lastly, they aim to increase market accessibility and depth of the Aave platform in addition to Credit Delegation. Insurance funds will help the platform to have a backup plan in case of any shortcomings.