LEND Coin: Aave Protocol's Old Native Token
LEND was the old native token of the decentralized lending protocol Aave. The protocol, originally named ETHLend, was a decentralized finance market built on the Ethereum network, aiming to enable peer-to-peer cryptocurrency lending through blockchain and smart contracts. The LEND token served as its primary medium of exchange and governance token during the ETHLend era.
From ETHLend to Aave: Protocol Evolution and Token Migration
The ETHLend protocol underwent a rebranding and significant upgrade, becoming Aave. As part of the "Aavenomics" upgrade plan, the LEND token migration to the new token AAVE was launched in October 2020. This migration aimed to reform the protocol's tokenomics and governance mechanisms, making the Aave protocol more sustainable and decentralized.
- Migration Ratio: LEND holders could exchange their tokens at a ratio of 100 LEND for 1 AAVE.
- AAVE Token Functionality: The migrated AAVE token grants holders the right to participate in Aave protocol governance and to protect the protocol and earn rewards by staking it in the Safety Module.
- Migration Time: The migration portal went live on October 2, 2020, allowing LEND holders to gradually convert to AAVE.
Current Status Comparison of LEND and AAVE
As of August 19, 2026, there are significant differences in the market performance and activity of LEND and AAVE tokens:
- LEND (Old Token): The current price is approximately $0.09561, with a 24-hour trading volume of only $2.44, and a market capitalization of about $3.437 million. These figures indicate that the LEND token no longer has an active trading market and lacks effective transactions.
- AAVE (New Token): The current price is approximately $89.22, with a market capitalization of about $1.376 billion, making it an active and valuable utility token within the Aave protocol ecosystem.
Given the extremely low trading volume of the LEND token and its completed migration to AAVE, its market activity has almost dried up, lacking effective transactions. Therefore, there are currently no reliable active trading channels for this token.
Aave Protocol: A Leader in Decentralized Lending
The Aave protocol is one of the leading lending markets in the current decentralized finance (DeFi) space, allowing users to deposit crypto assets to earn interest, or collateralize crypto assets to borrow other assets. Its innovation lies in introducing features like Flash Loans, which greatly expand the application scenarios of DeFi.
Official Website and Whitepaper
The original "ETHLend" official website for the LEND token has evolved into the current Aave protocol official website. For the whitepaper and related technical documentation concerning the LEND token, one should refer to the documents released during the early stages of the Aave protocol.
