24H Volume $31.93B +26.01%
MarketCap $1.17T -1.26%
LEND is the original governance token of Aave protocol. Features include proposing, voting and deciding on new additions, features, assets and to decide on the protocol parameters. Additionally LEND token is burnt based on the fees gathered by the protocol.
The Aave firm, originally named ETHLend, raised $16.2 million in an initial coin offering (ICO) in 2017, during which time it sold 1 billion units of its AAVE cryptocurrency - originally named LEND.
The LEND token migrated to AAVE at a rate of 100 LEND tokens to 1 AAVE, dropping the total supply of its cryptocurrency to 18 million AAVE.
The token sale was split into four rounds: