Aave (AAVE)

What is Aave?

Aave is a DeFi application which allows users to deposit and borrow cryptocurrency funds. Users earn interest against their deposit, and stake their digital assets in order to sanction loans. Flash loans - or uncollateralized loans can also be obtained, subject to certain conditions. Aave was formerly known as ETHLend as it is based on the Ethereum blockchain. The application’s native token is called AAVE. Besides AAVE, the platform supports financial activities using up to twenty different crypto currencies.

Why buy AAVE?

AAVE can be used to partake in various financial activities on the Aave platform. When AAVE is used, users can choose between fixed and variable rates according to their future expectations about the interest rate. AAVE holders also have platform governance rights and enjoy discounted fees.

Disclaimer : This article is intended for informational purposes only. While we try our best to verify the contents of  our articles, DeFy cannot guarantee that this article, or any information we sourced from third parties which has been included in this article, are free of error. This article should not be substituted for investment/ financial advice. Any actions taken based on information contained in this article are at your own risk. DeFy does not claim to endorse views presented in this article as our own.