The Aave Landing Project will launch the Aave Pro protocol for professional financial market participants in response to the increased demand. The head of the company Stani Kulechov announced this at the Next Steps in Institutional DeFi webinar.
So, after the webinar, listeners received an email describing the key features of the Aave Pro, which scheduled to launch in July 2021.
In the first phase, the new protocol will support four assets – Bitcoin, Ethereum, Aave, and USD Coin (USDC). And offer customers the same services as in the main version of the project. Its pools will be separated from other sources of liquidity.
Access to the platform granted to “institutions, corporations and fintech companies” that have passed the Fireblocks KYC review. To do this, Aave V2 integrates whitelisting. The blockchain startup will also enforce anti-money laundering and anti-fraudulent practices.
One of the most in-demand platforms in the DeFi space
Aave is a money market creation platform, built on an open and non-custody protocol. So, it allows users to easily earn interest when making deposits.
In the future, the protocol for institutions will be transferred to decentralized management.
Clearly, Aave is moving beyond the usual crypto lending protocol to become one of the most sought-after platforms in the DeFi space.
Recently, decentralized finance (DeFi) and its applications have been interesting topics for discussion in various technical forums. So, we can relate this to the performance of related applications and use cases across various industries and sectors. At the moment, there are different blockchain-based lending protocols, including their features.
These protocols were able to make a name for themselves in the crypto community. As they overcame big challenges and provided efficient services.
Aave Pro – deeper engagement with the DeFi ecosystem
The Blockworks event focused on the prospects for the decentralized finance (DeFi) industry. And the barriers that stand in the way of the adoption of new tools by professional players in the traditional market. It also attended the head of the cryptobank Galaxy Digital Mike Novogratz and co-founder of the blockchain startup Fireblocks Michael Shaulov.
After the announcement, community members split into two camps. Proponents of the former noted that Aave Pro will provide financial institutions with a deeper engagement with the DeFi ecosystem.
Thus, others recalled StakeHound’s lawsuit against Fireblocks. It blamed the blockchain startup for the loss of 38,178 ETH as a result of the loss of private keys from digital wallets.
However, the Aave initiative could definitely pave the way for accelerating the adoption of DeFi as well as cryptocurrencies.
Lenders and borrowers now have an ideal platform to conduct their transactions without fear.
Since its inception, the Aave developers have worked hard to make their network accessible to everyone. The open access and ease of use of this platform makes it ideal for both institutional and retail investors. Consequently, Aave has grown into one of the most popular DeFi apps in the world.
Recall that at the end of June, the Compound Labs company, which is behind the development of the landing project of the same name, opened a subsidiary structure of Compound Treasury. It provides neobanks and other financial institutions with access to the DeFi ecosystem.