ETHLend Joins New Parent, Aave; Utility Boost for LEND Token
ETHLend has disclosed the details of its new parent company, Aave, and in so doing, a suite of blockchain-based products native to Aave – covering areas such as gaming and lending – have been unveiled.
Informing the ETHLend community of the project’s new Switzerland-based parent was Nolvia Serrano (CMO, ETHLend) who, in an announcement on Tuesday, outlined the contributory role that the ETHLend decentralized application (dApp) will play among the newfound Aave ecosystem.
Business as Usual
Importantly, the introduction of Aave will not alter what ETHLend stands for. That is to say, the ETHLend project will still aspire toward its mission of serving as an Ethereum-based decentralized financial marketplace for peer-to-peer digital asset-backed loans.
In a similarly hands-off approach from the new parent company, the C-suite executive positions at ETHLend will remain unchanged, meaning that Stani Kulechov, Jordan Lazaro Gustave, and Serrano are continuing on as CEO, COO, and CMO, respectively.
Integrating with Aave will bring about some element of newness to ETHLend’s organizational structure, however, with Tuesday’s announcement introducing two new team members: Mika Söyring, joining as CFO, and Ville Valkonen, as CCO.
Must Aave Teamwork
Soon after the news of the Aave expansion went public, Kulechov – who founded Aave in 2017 – shared the below tweet; expressing his gratitude toward the ETHLend team and community for their dedication shown during the months that preceded the integration with the Swiss technology company.
— Stani Kulechov (@StaniKulechov) September 18, 2018
More Than ETHLend
In addition to ETHLend, Tuesday’s announcement detailed the following five products native to Aave: Aave Pocket (gig economy and micropayments), Aave Lending (turnkey solution for digital asset-backed lending), Aave Custody (private key storage), Aave Clearing (OTC clearing service), and Aave Gaming (game studio utilizing blockchain technology and smart contracts).
With Aave now introduced by ETHLend – who have notably changed their Twitter handle from @ethlend1 to @aaveaave – the company looks set to embark on a period of aggressive growth, as exemplified by its stacked jobs board.
In a boon for the utility underling the ERC20-compliant LEND token, a moderator of the ETHLend subreddit revealed that it “will be used along the whole [Aave] ecosystem.” Until Tuesday, the LEND token’s utility – which is listed on Binance, OKEx and other exchanges – was defined entirely by the level of borrowing and lending activity on ETHLend.