Aave Rises 16% On News Of Latest Aave Pro Platform Launch

Aave rises 16% on the day after the Defi project confirmed that its institutional investor platform Aave Pro will launch soon in July as we are reading more in our latest altcoin news today.

Decentralized money market protocol Aave revealed that the DeFi platform Aave Pro will launch later this month which is why Aave rises 16% on the news. The DeFi Protocol had its price surge by double digits after the announcement that the platform Pri will launch later this month. The Pro platform is a permissioned version of the platform that is geared towards institutional investors and was first revealed during a webinar a week ago. Attendees of the “Next Steps In Institutional DeFi” webinar received a follow-up email with more info on the Aave Pro platform.

$AAVE Pro coming in July.

For those that didn’t attend the “NExt Steps in Institutional Defi” Zoom with Stani, here’s a recap email I received. pic.twitter.com/ClwlBkXh2r

— Noah Goldberg (@TraderNoah) July 4, 2021

The letter said that “due to extensive demand from various institutions, Fireblocks and Aave are launching the first permissioned decentralized liquidity protocol Aave Pro in July.” Fireblocks closed a $133 million Series C financing round in March and will join the initiative as a partner. The price of the AAVE token surged on the news by more than 22% surpassing the $338 mark and according to the data from CoinGecko, the last time the token was trading at these levels was on June 10 and Aave have since settled at $328 which represented a 16% gain over the past day.

Initially, Aave Pro will support four assets that have high institutional demand like BTC, ETH, USDC, and AAve. The liquidity pools will be segregated from the markets like Aave Polygon and V2. One notable feature of Aave Pro is that the investors will have to pass the smart contract-based Know Your Customer verification of Fireblocks to get access to the platform. Once approved, they can enjoy the benefits of the automated DeFi yields and the decentralized governance-something that Stani Kulechov who is the CEO of Aave called the “most interesting feature.” Additionally, Fireblocks will implement AML and anti-fraud compliance for Aave pro.

The news of the Pro platform launch should not come as a big surprise though as Kulechov revealed that Aave was already trialing private permissioned liquidity pools back in May.

Source: https://www.dcforecasts.com/altcoin-news/aave-rises-16-on-news-of-latest-aave-pro-platform-launch/