1 million LEND tokens have been burned on defi protocol AAVE

in DeFi7 days ago (edited)

1 million LEND tokens have been burned by fees collected by the AAVE protocol.

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A large portion of the fees were collected from flash-loans, which are 1-transaction loans where money is borrowed and returned from the protocol without posting collateral.

These types of loans are used mainly to perform high-speed coins swaps, exotic arbitrage on decentralizing exchanges etc..

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