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 Founder Would Like to Tokenize Tesla

24 Aug 2020 1 minute read 1 comment Abhimanyu Krishnan

The founder of decentralized lending platform Aave (LEND), Stani Kulechov, made an interesting proposition to Elon Musk via Twitter on August 21, telling him that he would one day like to see cars be used as collateral to borrow USD Coin (USDC). Kul...

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19 Aug 2020 3 minute read 3 comments D3F1

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19 Aug 2020 1 minute read 1 comment Abhimanyu Krishnan

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19 Aug 2020 4 minute read 16 comments Aave

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DeFi Guru Aave New Governance Model Launched on Testnet

17 Aug 2020 1 minute read 1 comment SXNXW

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17 Aug 2020 1 minute read 0 comments Abhimanyu Krishnan

Defi lending protocol Aave (LEND) is looking to tokenize mortgages as a part of its v2 upgrade, according to an announcement made on August 14. Aave has partnered with real estate tokenization firm RealT to make mortgages accessible via the DeFi spa...

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11 Aug 2020 2 minute read 0 comments SamBTC

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Aave Carries Out First Credit Delegation Transaction

7 Aug 2020 1 minute read 0 comments Abhimanyu Krishnan

On August 6, decentralized lending and borrowing platform Aave (LEND) processed its first credit delegation transaction. The credit delegation feature provides trusted uncollateralized to users. A line of credit of $500,000 was offered to DEX Devers...