Okay it's official, I don't know much about cryptocurrency because I'm new to this crypto thingy. So I decided I'm going to task myself to learn the basics of at least coin or token a day.  Either existing or newcomers. Today I opted to learn about AAVE. 

 Top headings I learnt about aave

1. AAVE is a decentralized finance protocol that allows it's users to lend and borrow cryptocurrency. 

2. When you lend your digital assets into specially created liqidity pools, you earn interest.

3. Borrowers that borrow on the platform use their cryptocurrency as collateral to take out flash loans from the same liquidity pools. 

4. AAVE was formerly known as ETHlend when it launched in November 2017, but later re-branded to AAVE in September 2018 meaning "ghost" in Finnish. 

5. When you own a AAVE token on its platform,  you will be provided with discounted fees, which serves as a governance token- that is a token that is used to vote on a decision that influences an ecosystem.

6. AAVE flashloans is the first uncollateralized loan option In the DeFi space,  though there's a catch: it must be paid back within the same transaction.

7. AAVE token have been built on the ERC- 20 token standard, and they are designed to be deflationary. In the event of a shortfall in DeFi  protocol, staked loans would be used a z collateral only as a last resort.