This platform pays users interest on locked funds in exchange for loans. Aave was one DeFi project to reach $1 billion in market capitalization in 2020, but its value has dipped under crypto unicorn status a few times following news of a $6 million flash loan exploit. The protocol’s own LEND token — which has migrated to a new AAVE token — surged after Aave received an Electronic Money Institution license from the United Kingdom Financial Conduct Authority in August.
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Source: Cryptocurrency - investing.com
