Payward announced on November 5 that an affiliated fund and its clients had acquired an undisclosed amount of AAVE tokens on the secondary market. The investment gives a group with institutional ties exposure to the Aave decentralized credit protocol without disclosing a stake percentage, purchase price or future investment schedule. The transaction does not grant Payward managerial control over Aave, and holding governance tokens is not equivalent to owning shares in Aave Labs. Payward cited commercial conviction in the growth of onchain credit markets and the possibility of future collaborations, although the scope and scale of any initiatives remain unspecified.
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