#AltcoinMomentum Aave by the numbers.
Aave is one of the largest DeFi protocols, with billions of dollars in weekly volume on Ethereum and across 12 other networks.
About Aave
Aave is a decentralized finance protocol that allows people to lend and borrow cryptocurrencies.
Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a quick loan using that liquidity.
Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but the name change to Aave happened in September 2018. (This helps explain why this token’s ticker is so different from its name!)
AAVE offers holders discounted rates on the platform and also serves as a governance token, giving holders a say in the future development of the protocol.