Aave is a decentralized finance (DeFi) platform built on top of the Ethereum network built by Stani Kulechov in 2017. Users can lend and borrow cryptos without the need for an intermediary. AAVE also serves as a governance and utility token on the Aave platform.
What Makes AAVE Unique?
- One of the biggest projects in terms of the total value of crypto locked in its protocol
- Provides "flash loan," the first uncollateralized loan option in the DeFi space
- The ability to choose between fixed and variable interest rates
What Affects the Price of AAVE?
The adoption and popularity of the protocol
What Gives AAVE Value?
- A limited supply of 16 million AAVE
- Interoperability with other DeFi platforms
How Secure Is The AAVE Network?
Aave's open-source protocol is built on Ethereum and uses the proof-of-stake security consensus.
What Does Aave Stand For?
Initially called EthLEND, with LEND as its native digital currency, Aave was created and released in 2017. However, in 2018, it changed its name and became known as Aave, a Finnish word meaning "ghost". Maybe because it facilitates easy movement in and out of different blockchain environments.
What's so special about AAVE?
Aave stands out in the DeFi market and is considered one of the leading money markets in terms of liquidity and technical capabilities. Aave can do this thanks to its ability to borrow and lend numerous crypto assets, including top trading cryptocurrencies like Ethereum (ETH) and other altcoins and stablecoins.