The decentralized lending agreement Aave announced that it will raise US$3 million through the sale of tokens. Venture capital firm Framework Ventures and cryptocurrency hedge fund Three Arrows Capital have participated in the investment. The two institutions have acquired 30 million at a price of US$0.1 per token. Aave’s native token Lend, at current prices, these tokens are currently worth more than $7 million. Aave has previously confirmed to Chain News that it will launch a new token AAVE, which will replace the currently issued token Lend through a token swap. The economic model designed for the new token AAVE will include a liquidity reward and token pledge reward mechanism.