if you are into DeFi (Decentralized Finance), you will probably already now Aave. If things go right, you will soon be able to use it comfortably in a fully secure mobile app, directly from your smartphone. 📲
Built by Members of the Aave Community
An independent team, that calls itself 2001DeFi, submitted a proposal to the Aave Grants DAO on August 14th, to design and build this app. 2001DeFi is a team of five, consisting of two designers and three engineers, most with mobile development or crypto experience. They all are users of Aave, and want to turn their idea of a decentralized App (dApp) into reality.
Accessibility is still one of the major roadblocks for cryptocurrency adoption. With a simple to use app with smartphone-compatibility, a huge number of mainstream users, and also crypto first-timers could start using Aave, and with it Decentralized Finance.
The dApp release is planned for both, Android and iOS, to increase the onboarding of new uses to the Aave protocol and ease acces to Aave from smartphones and tablets. In the end this could also drastically improve the TVL (Total Value Locked) of Aave.
2001DeFi promises to put extra effort into the development of a decentralized architecture. This way, it could potentially be hosted on IPFS (a Distributed Web protocol).
The Lead Designer of the project, states some advantages of the dApp their planning:
- Sleeker UI, with better asset/loan tracking + charts
- Skinned governance UI for interacting with delegate actions and proposal voting in app
- Mainstream friendly UX with simpler inputs and market information
- Push notifications for new proposals, liquidation alerts, etc.
- No browser needed, faster actions and connection process in app
- (in future) IPFS hosting fully decentralized architecture,
- Easy Polygon and Layer 2 wallet switching
Sneak Peak of the Design
Of course the team couldn't wait and has already started designing the App. Take a look at their initial designs:
Good news - the vote on Snapshot has ended on August 20th, with a pretty clear result. 100% of all voters have been in favour of the proposal, and a grant for 98000$ will be awarded to 2001DeFi!
With this another Decentralized Autonomous Organization proves again, how a future with fair government could look like. I truly love the "from the community for the community"-vibe, and after news like this I will even more try to get involved into some DAOs myself.
Aave, founded by Stani Kulechov in 2019, was one of the first decentralized lending and borrowing protocols. It allows users to lend or borrow cryptocurrency without any intermediary. Users can earn interest on assets they lend out, or borrow assets, and pay interest in return.
Aave means “ghost” in Finnish, which represents Aave's mission to build a transparent and open infrastructure for decentralized finance. The protocol is completely open source, and has been audited and secured. As Aave is a DAO, it is operated and governed by the people who hold $AAVE tokens.
Want to learn more about DeFi?
SundaeSwap (Live Demo Key Take Aways, Latest ISO News, How to get SUNDAE Token)
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Presearch (Google-Alternative that pays you for searching the web. Get 25 $PRE for signing up.)
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