Aave is a DeFi lending protocol that allows its users to lend and borrow crypto assets and earn stable or various interest rates. Translating into ‘Ghost’, the Finnish based platform aims to create a transparent, permissionless environment for DeFi lending and borrowing. It is an open-source, decentralized network and proudly holds accolades like becoming the market leader in the lending and borrowing DeFi space.
Apart from the typical features seen in other lending platforms like Compound, Aave has extra benefits to boast of. They furnish users with Flash Loans, uncollateralized loans, rate switching, and unique collateral types.
The Aave protocol leverages a native token LEND, set to be swapped to a token called AAVE. These governance tokens can be staked for insurance to earn fees and Aave rewards. The token holders also have earned the right to governance within the DeFi protocol.
Since its launch, the protocol has made history in the DeFi space with over $1 billion market size in less than six months. Today, by availing of our DeFi protocol like Ave development solutions, you can provide users with a similarly intuitive and remunerative platform and make high returns!