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.
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