The Aave protocol is working on creating a pool for attracting institutions. This revelation was made accidentally by the Aave co-founder, Stani Kulechov, while responding to a disgruntled user on Twitter. He said that Aave is currently testing a pool that is intended for institutions.
“It’s a private pool for institutions that are still training before imitating DeFi .”
Aave executives have confirmed reports that the concerned pool is not private strictly. Though it exists on public channels, its access is limited. While stressing that the purpose of the concerned pool is educational, an Aave executive has confirmed that:
“This is a good solution to promote collaborative learning between centralized finance and decentralized finance.”
Reports say that executives at Aave have confirmed that the concerned project is currently “at an advanced stage of development” and that the mainnet could be hit soon.
With the revelation of this news, the crypto community interpreted it as good news. It is believed that an influx of institutional investors has started taking place for carrying the biggest cryptos in recent months. This good news made the AAVE price jump and reach a new ATH (all-time-high) at US$610 this morning. Its market cap has increased to more than US$7.7 billion.
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