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What is Aave all about
Aave falls into a burgeoning sector of the cryptocurrency space —decentralized finance (DeFI). Aave is a decentralized lending system that allows users to lend, borrow and earn interest on crypto assets, all without middlemen.
DeFi has become an important facet in the cryptocurrency space and is one example of how the power of blockchain can remove intermediaries in a financial setting. This has been one of the reasons for the proliferation of platforms like Aave.
Aave is a platform that runs on the Ethereum blockchain allowing it to make use of the popular smart contract protocol and further enables the assets to be managed by a vast distributed network of computers ushering in secure decentralized crypto lending.
Aave was founded as ETHLend in 2017 by Stani Kulechov after raising $16.2 million in its ICO. ETHLend’s original proposition tried to match lenders and borrowers in a peer-to-peer fashion, but the success of the rebranded platform has come from its lending pools that enable users to lend or borrow 17 different cryptocurrencies including ETH, BAT and MANA.
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AAVE Questions & Answers
What is the price of Aave right now?
Current price of Aave is at 258.04 Euro.
How much will Aave be worth 1 month from now?
Based on our price prediction algorithm we suspect that the value of Aave is likely going to reach between €174.87 and €344.59 in 30 days.
What will Aave cost six months from now?
Difficult as it is forecasting long term based on our prediction algorithm we estimate Aave's price will be between €100.12 and €344.59 6 months from now.
How much did Aave cost at its highest?
Aave's price was the highest on 2021-05-18, when it was at 541.28 EUR.
What will the Aave price be in three months time?
Using our short term prediction we estimate Aave's cost will be between €154.21 and €344.59 in three months time.
Do online users engage in Aave discussions?
13464 Reddit users were participating in discussing Aave on Reddit in the last 48 hours. Aave's official Twitter handle currently is followed by null people.
What is Aave trying to solve?
A lot of DeFi projects are coming into the space to disrupt banking and financial services. At Aave, they allow users to earn interest on cryptocurrency deposits, as well as use their deposits as collateral to borrow against them.
Is Aave like Ethereum?
Aave is a platform built on the Ethereum blockchain — this doesn't make it the same as Ethereum. Aave uses the robust and tested Ethereum platform to operate its protocol and allow users to have custodial control of their borrowing and lending.
What does the Aave token do?
AAVE’s primary function is to govern the protocol. All token holders can submit and vote on Aave improvement proposals, which have the purpose to improve the protocol. Holding AAVE thus allows people to have a say in the direction of the protocol, and they can also stake the coin to earn passive interest.
What is the Aave token, and how can I get it?
The Aave platform has its own native token — AAVE — these tokens can be used on the platform for different roles, but they can also be earned through staking. This means users can deposit them into what the platform calls their “safety module” and earn a regular return.