LEND Token: The Original Token of ETHLend, Aave Protocol's Predecessor
LEND token is the native token of the ETHLend protocol, a decentralized peer-to-peer cryptocurrency lending platform launched in November 2017. The platform aimed to address liquidity issues in the cryptocurrency market, allowing users to obtain loans by collateralizing their digital assets without selling them. The LEND token played a crucial role in the ETHLend ecosystem, used to increase borrowers' loan-to-value (LTV) ratio, for micro-staking, and to pay platform fees.
From ETHLend to Aave: Rebranding and Token Conversion
ETHLend successfully raised $16.2 million in its Initial Coin Offering (ICO) in November 2017, selling approximately 1 billion LEND tokens. As the project evolved, the ETHLend team announced a rebranding in September 2018 and officially changed its name to Aave in January 2020. As part of the rebranding, LEND tokens were converted to the new AAVE tokens at a 100:1 ratio between July and October 2020. This conversion significantly reduced the total token supply from the initial approximately 1.3 billion to 16 million, marking a significant milestone in the protocol's development.
AAVE Token: The Governance Core of Aave Protocol
AAVE is the native governance token of the current Aave protocol. Aave is a leading decentralized, non-custodial liquidity protocol that allows users to earn interest as depositors or obtain liquidity as borrowers by providing collateral. AAVE token holders have governance rights over the protocol, enabling them to participate in voting on key decisions such as protocol deployment, parameter adjustments, and new features. Additionally, AAVE tokens can be staked in the protocol's "Safety Module" to provide security for the protocol and earn corresponding rewards.
Aave Protocol Official Website and Tokenomics
The official website for the Aave protocol is Aave.com. In terms of tokenomics, the maximum and total supply cap for AAVE tokens is 16 million. As of September 2026, the circulating supply of AAVE is approximately 15.435 million.
AAVE's Market Performance and Trading Channels
As of September 2026, the AAVE token has shown active market performance, with a market capitalization ranging from approximately $2.5 billion to $2.6 billion, and its price fluctuating between $165 and $170. AAVE tokens can be traded on multiple major centralized and decentralized exchanges globally, including Binance, KuCoin, Kraken, Bybit, Gate.io, MEXC Global, Coinbase, and others. Users can trade on platforms that support this token; please verify its listing status before trading.
