Aave has emerged as a top DeFi protocol with $1.5B locked in its smart contracts. It has also become the first DeFi project to reach a $1B market cap and receive an Electronic Money Institution license from the United Kingdom Financial Conduct Authority.
Aave recently launched its Aavenomics proposal to reward both liquidity providers and AAVE holders who are taking part in the risk position and keeping the protocol safe. Stani Kulechov, the CEO of Aave, told Cointelegraph in a phone call that the function that allows Aave token holders to stake into the Safety Model is reportedly to attract more institutional investors and the general public to deposit into Aave.
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