Aave (AAVE)

494 Articles 44,275 Followers

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.

How To Maximize ETH Rewards With Least Risks

27 Feb 2023 1 minute read 4 comments Cryptofab

You earned Ethereum (ETH) by writing or reading on publish0x or decided to buy some, and you have been searching for the best way to maximize your rewards on ETH by investing into staking or DeFi (Decentralized Finance). As you may know, native staki...

What Are The Most Secure DeFi Protocols On Ethereum?

26 Feb 2023 1 minute read 4 comments Cryptofab

With the recent events regarding Oasis app, the frontend of MakerDAO, which upgraded their smart contract to steal the funds from Wormhole hackers by using Oasis multisig wallet, it can be useful to understand how multisig wallets are used for some o...

⭐🌷BYDFi Exchange: A Comprehensive Guide to Its Features, Benefits, and 3rd Anniversary Celebration 2🌷✨💫

23 Apr 2023 8 minute read 7 comments Selena Rose

  🌷Happy 3rd Anniversary BYDFi!🌷 🌕BYDFi, known as BitYard, is a crypto trading platform established in 2020 with a unique vision of "BUIDL Your Dream Finance." The intentional misspelling of "Build" highlights the company's belief in the signific...

Aave: Decentralized Finance Unshackled

27 Nov 2023 1 minute read 0 comments Rhyth

One can say that cryptocurrencies transformed business activities. A true pioneer among the decentralized platforms is called Aave. Started back in the year 2020, Aave has come out to be a front runner in offering loans and debt recovery on the block...

The Ridiculousness Continues: Retik Finance Fails CertiK Audit

17 Jan 2024 1 minute read 2 comments ADA Crunch

As I covered in my last article, Retik Finance is obviously a scam. But that didn’t stop them from rushing to reassure the public that their scammy token isn’t actually a scam by informing us all on their Twitter page that their CertiK audit is comp...

What Happens to DeFi Today ? (07 Mar 2023, Tuesday)

8 Mar 2023 4 minute read 3 comments quantdoge

What Happens to DeFi Today ?   “What happens to DeFi today?” is a crypto news curator that curates high-quality and insightful DeFi news for you daily. Here are the news for you today.   If you would like to read and analyse the news here over an int...

What Happens to DeFi Today ? (15 Mar 2023, Wednesday)

15 Mar 2023 3 minute read 3 comments quantdoge

“What happens to DeFi today?” is a crypto news curator that curates high-quality and insightful DeFi news for you daily. Here are the news for you today. If you would like to read and analyse the news here over an interactive user interface, please c...

Lower your XEN Crypto minting costs using AAVE.

17 Mar 2023 2 minute read 0 comments codecustard

XEN Crypto is a project developed by Jack Levin focusing on the first principles of crypto as laid out in the Bitcoin whitepaper by Satoshi Nakamoto. In a nutshell, XEN imitates the tokenomics of Bitcoin with a difficulty factor that makes XEN deflat...

How to Keep Your Crypto Safe

7 Aug 2023 1 minute read 1 comment Louky

Hey, my awesome crypto crew! 💸 Buckle up, 'cause we're about to explore the epic world of self-custody! But hold your horses, no need to go all gung-ho like crazy crypto cowboys! 🙅‍♂️ Let's break it down, crypto-style, in a way that's easy peasy. S...

DeFi Is Over? The Curve Exploit That Could Bring Down the Entire Ecosystem

1 Aug 2023 1 minute read 2 comments Cryptofab

The recent exploit of Curve Finance, one of the largest Ethereum DeFi protocols, has raised serious concerns about the DeFi security. The exploit allowed hackers to drain $52 million worth of assets from the protocol, and it has led to fears that oth...