Conntent
LENDQ was originally a utility token for the ETHLend platform, but since rebranding, LEND has undertaken more use cases, including platform governance, because Aave as an organization is closer to a decentralized model. The governance business driven by LEND is to vote on the recommendations made by the development team, set interest rates, liquidate allocation, and list new assets.
Traders have obtained huge gains through LEND, LEND rose from 0.15708 US dollars to 0.430221 US dollars today, an increase of 174%. LEND is not the only DeFi token with a growth rate exceeding three digits. COMP, ADA, RUNE, SNX and BNT have all made huge gains in the past few months. The growth of some of these tokens may have elements of luck, but the price increase of LEND may be driven by the actual use of the Aave platform, which currently has more than $670 million in value deposited as collateral for borrowing. For convenience, LINK is the largest market on Aave, valued at $177 million, and LINK tokens have risen by 515% year-to-date.
In general, Aave proved to be an innovator in the DeFi field, developed innovative services, and quickly surpassed other lending platforms. And this is just the beginning.