Aave (AAVE)

What is Aave (AAVE)?

Aave is a decentralized finance protocol that lets people lend and borrow cryptocurrency. lenders earn interest by depositing digital assets into special made liquidity pools. Borrowers are then able to use their crypto as collateral to withdraw flash loans using this liquidity.

Aave has a wide variety of unique features that sets it apart when compared with competitors in an ever more crowded market. In the summer of 2020, during the DeFi craze, it was among the largest projects when it came to the total value of crypto locked in its protocol.

The project enables users to lend and borrow around 20 cryptocurrencies which means that users have more choice. Among the many key features of the project is “flash loans”. They have been described as the first uncollateralized loan option in the DeFi space. However, they must be paid back within the same transaction.

An additional feature of the project is how those who borrow through Aave can swap between fixed and variable interest rates. While fixed rates can offer some assurance about costs during periods of volatility in the crypto markets, variable rates can be useful when the borrower thinks that prices will drop soon.

Team

Aave and its forerunner ETHLend were both founded by Stani Kulechov. He was initially frustrated at the absence of lending applications on Ethereum, he built the project before the idea of DeFi came to fruition.

Kulechov is a serial entrepreneur while also having spent time at law school, he also began programming when he was a teenager. He was one of the early adopters in the blockchain industry. He has said that he wanted to rebrand ETHLend as Aave so the project could provide a wider range of service that extends beyond Ether lending. Kulechov has stated that Aave’s main target market are the individuals who are involved in the cryptocurrency community already.

Roadmap

January 2020
•   Aave Protocol goes live
•   Aave Oracle powered by Chainlink
•   Bug Bounty Campaign

February 2020
• My Ether Wallet and Trust Wallet Integration

March 2020
• BUSD s introduced in Aave

April 2020
•   Aave Ecosystem Grants
•   Parameters updates and history page launch
•   Liquidations page, new menu, new home page, token burn page, risk framework

May 2020
• Upgraded borrowing rates
• Uniswap Market

June 2020
• $100,000,000 market size

July 2020
•   Liquidity Risk Framework
•   ENJ and REN Listed
•   Aavenomics

August 2020
• Credit Delegation

September 2020
• RealT Market
• Governance Release

October 2020
• Token Migration and Staking 101

Where to Store Aave (AAVE)

Trust wallet is a wallet that can hold a wide variety of cryptocurrencies such as Aave making it highly desirable for users who wish to have a varied portfolio. Being owned Binance, it also a very trusted wallet in the crypto community.

Leading hardware wallet providers such as Ledger are integrated with Aave and AAVE wallets will come as standard on their devices. 

Where to Buy and Sell Aave (AAVE)

You can Buy & Sell Aave (AAVE) by heading over to the Buy Coins page of our website. Aave (AAVE) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Tether has never been easier, simply place your order and provide your wallet address.

Once your payment arrives Aave will be sent directly to your wallet. If you choose to Sell Aave (AAVE) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the ‘Sell Coins’ page.

Aave (AAVE) Resources

Website: https://aave.com/
Block Explorer: https://etherscan.io/token
Twitter: https://twitter.com/aaveaave
GitHub: https://github.com/aave/aave-protocol

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.