The lending protocol Aave, sets the eyes on tokenized mortgages in its second version of the protocol by releasing the specifications as it eyes $1 billion locked under contract according to DeFi pulse so let’s find out more in the upcoming cryptocurrency news today.
The lending protocol Aave will partner with the real estate tokenization company RealT and will bring home mortgages to DeFi as the company didn’t comment further by press time. V2 will include transaction fee optimizations such as the native support for smart contract Gas Token. As it was previously reported, Aave announced more plans to transition in a fully autonomous and decentralized protocol via its “genesis governance” and Aave Improvement Proposals scheme.
V2 takes DeFi composability beyond what we already know as the founder Stani Kulechov said. For example, the second version will introduce the ability to swap debt from one currency to another and the ability to swap collateral without having to return the loan.
The Fifth biggest DeFi protocol Aave got its native LEND token listed on one of the leading crypto exchanges OKEx. The platform extended support for the LEND token against BTC, USDT, ETH a day after the deposits were allowed on the platform. Aave, known as the ETHLend has been around since 2017 enabling the creator of money markets by offering crypto deposits and lending facilities. The ETHLend moved to the Aave lending platform at the start of 2020 with a market scale of more than $630 million, making it the fifth-biggest Defi protocol in terms of locked value.
The decentralized financial platform Aave unveiled a new plan that will be an integral part of their goal towards decentralized governance structure by entailing a tokenswap that will convert LEND to Aave in 100:1 ratio. Aave detailed the plan to improve the decentralized nature of the protocol as the co-founder Stani Kulechov spoke about the proposal calling it a “milestone on the journey towards more decentralized governance structure.
The DEX DeversiFi exchange has just obtained a credit line by the third-party collateral using the Aave novel credit delegation scheme. The new credit line uses collateral provided by other users seeking to earn additional returns as the agreement was facilitated by the decentralized contract service OpenLaw which set up the terms of recording digital signatures.
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