Aave (AAVE)

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Aave is a decentralizing lending and borrowing platform. Key features of the platform include flash loans, which are uncollateralized loans where borrowing and repayment occur in the same transaction; credit delegation, trusted uncollateralized loans; and borrowing and lending capabilities typical of decentralized lending platforms.

Aave was founded in November 2017 by CEO Stani Kulechov, who has described the goal of the platform as being “to build financial products that people need, while also having some fun.” Aave launched as ETHLend, but rebranded to its current form in September 2018. As ETHLend, it raised $600,000 in Ether in November 2017. The team consists of 19 members coming from a diverse background.

The platform’s native governance token AAVE (previously it was LEND), which also gives its holders discounts on network fees. Compared to other platforms of its kind, Aave has listed a comparatively greater number of assets against which loans can be issued, with a multitude of assets available, including offers on layer 2 Ethereum chains like Polygon. This in combination with its flash loan feature has made it a popular choice for borrowing and has contributed to its quick growth in 2020 and 2021.

The rate switching feature allows users to switch between fixed and variable rates, allowing users to pick the most profitable interest rates. Aave’s credit delegation allows users to borrow funds with no collateral provided and is the pioneer of this mechanism in DeFi space. The team has recommended that users only enter into this agreement with users they trust, and Aave is working on an insurance fund to protect funds in the event any issues may occur.

Aave launched on the Ethereum (ETH) mainnet on January 9, 2020. While most technical updates have been completed, the team has stated that they will research and develop new features going into the future.

Aave's Bid to Tokenize Mortgages Moves Forward with RealT Collaboration

2 Sep 2020 1 minute read 0 comments Abhimanyu Krishnan

Decentralized lending and borrowing protocol Aave (LEND) has provided an update on its bid to tokenize mortgages, as revealed in a blog post published on September 1. Aave will also add a proposal to add RealT Markets to the protocol, which will all...

Aave Co-founder Says DeFi is Unfair with "Smaller People Paying for the Bigger People"

2 Sep 2020 1 minute read 1 comment Abhimanyu Krishnan

Aave co-founder Stani Kulechov, in a podcast with Decrypt’s Matthew Aaron on September 2, offered a sharp response to the profit-seeking in the DeFi space, criticizing it as a system that currently rewards the rich. When asked if yield farming resem...

DeFi Lender Aave Breaks Above $300 Million In Flash Loans

1 Sep 2020 1 minute read 0 comments CryptoBrowser

The fast blooming of the DeFi ecosystem pushed Aave, the leader in total value locked, to new record highs, as the lending protocol exceeded $300 million in flash loans since its creation. Aave went from $14 million in July to over $300 million, wher...

How YFI Beats BTC to Become the most Expensive Coin

1 Sep 2020 1 minute read 0 comments George Owota’s native governance token, YFI, is now the second-biggest decentralized finance (DeFi) coin in the coin market with a market capitalization of $1billion and a volume of $652,424,201 just one and a half months after its launch.YFI has b...

Aave Reaches $300M in Flash Loans Issuance

1 Sep 2020 1 minute read 0 comments Abhimanyu Krishnan

Decentralized lending and borrowing platform Aave (LEND) has hit a new milestone, crossing $300 million in flash loans on August 30, according to Aave tracker Aavewatch. A flash loan worth $14 million executed on August 29, with trend of an overall...

What is AAVE (LEND)? Will We Go Towards Mass Adoption?

29 Aug 2020 2 minute read 0 comments ☑️0🆇D̺͈͙͕̿ͧ̑ͣ🅰🆅🅸🅳eͤ

🅰🅰🆅🅴 is a London-based company founded in 2018. The company's goal is to solve some problems arising from centralized markets such as PayPal, Skrill and Coinbase. Their main product is Aave Protocol, an open source, non-custodial protocol based on th...

DeFi Tops $7B

27 Aug 2020 1 minute read 1 comment Abhimanyu Krishnan

The Total Value Locked in (TVL) in the DeFi space has crossed $7 billion on August 27, showing no signs of stopping as several new protocols, data aggregators and yield farming platforms emerge. Already experiencing healthy growth in early 2020, the...

27.08.2020 - Another day into Cryptoverse

26 Aug 2020 2 minute read 3 comments Heruvim78

  Polkadot entered in the Top10 after decreasing x100 is currently ranked #6. The value increased spectacularly from 3 to 6 USD. Just sold my Ampleforth and bought Polkadot instead. Is that bad? Is that good? The future will tell me.  Ethereum go...

MFT (Mainframe) privacy centered fixed rate crypto lending

26 Aug 2020 1 minute read 0 comments Andann427

(MFT) Mainframe with its backing of Edward Snowden’s freedom of the press association, backing from venture capitalists, shapeshifts Eric Voorhees, Ethereums Gavin Woods, and Zilliqa’s Xinshu Dong creates quite a resume of notable supporters. With a...

Aave dethroned MakerDAO in Total Value Locked with more than $1.44B available for Lending.

26 Aug 2020 1 minute read 0 comments alberdioni8406

Aave protocol have dethroned MakerDAO in Total Value Locked (TVL) in funds from customers for borrow and lending purposes. Accordingly with data supplied by DeFi Pulse the protocol have more than $1.44B locked in assets and is the second protocol...