The developers of Aave, an open-source and non-custodial decentralized finance (DeFi) protocol for earning interest on digital asset deposits while also being able to borrow assets, have teamed up with Axie Infinity.
Through the partnership, both organizations aim to bring you a “hot new collab” featuring DeFi, (non-fungible tokens) NFTs, and gaming products.
As mentioned in a blog post by Isa Kivlighan from Aave:
“Axie Infinity is a Pokémon inspired digital pet universe where players can battle and collect fierce, fantasy creatures called Axies. Players can earn a variety of tokens by playing the game, making Axie a true play to earn experience.”
The announcement further noted that Aave will be sponsoring Season 13 of the Axie Community Alpha. Beginning on (Monday) November 9, 2020, more than $4,000 in AAVE tokens will be “on the table for Axie players to battle for.”
The Aave team added:
“Additionally, starting NOW anyone who holds at least 0.65 AAVE or stkAAVE (staked AAVE) tokens can qualify to earn a super rare, limited-edition Aave themed NFT…this claim period ends December 6, 2020 at 3 pm CET.”
The Aave team further noted that the intersection of decentralized finance and gaming is “an exciting space to watch, opening up both worlds to never-before-seen possibilities in both the financial and gaming ecosystems.” The Aave team claims that gaming can be a great way to onboard new users to “the rest of the cryptosphere, and combining DeFi and gaming makes for fun new opportunities to get to know the space.”
As reported recently, Aave protocol developers announced that they’ve migrated ownership of the protocol to the (decentralized) governance of blockchain-based smart contracts.
Kivlighan from London-headquartered Aave had noted that the migration “is in effect, and the AAVE token is the new governance token of the protocol.”
Kivlighan, the digital market manager at Aave, had confirmed that AAVE token holders are now able to vote on AIPs (which are proposals for performing updates or changes to the DeFi protocol). She had also mentioned that token holders are now able to stake their AAVE in the protocol Safety Module and start earning “Safety Incentives in exchange for securing the protocol.”
As reported in October 2020, Aave introduced Centrifuge, a platform for launching real-world assets.
More than $3.5 billion in value had been deposited on the Aave platform and over $1 billion had been borrowed (as of September 2020).