Sobre Aave
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What is Aave (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 cryptocurrencies as collateral to obtain a quick loan using this liquidity.
Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but the name change occurred in September 2018. (This helps explain why the token’s ticker is so different from its name!)
AAVE offers holders a discount on platform fees, and also functions as a governance token, giving holders a say in the future development of the protocol.
What Makes Aave Unique? 👻
Aave has a few unique selling points compared to its competitors in an increasingly crowded market. In the summer of 2020, during the DeFi craze, it was one of the largest projects in terms of total value locked in cryptocurrencies on its protocol.
The project allows people to borrow and lend around 20 cryptocurrencies, showing that users have a wider range of choices at their disposal. One of Aave’s main products is “flash loans,” which have been billed as one of the first uncollateralized lending options in the DeFi space. There’s one catch: they must be repaid within the same transaction.
Another big highlight is how loans through Aave can be switched between fixed and variable interest rates. While fixed rates can provide some certainty about costs during times of volatility in the crypto markets, variable rates can be useful if the borrower believes prices will fall in the near future.
How Many AAVE (AAVE) Coins Are in Circulation?
Circulation is tied to the total value locked in Aave, as tokens are burned whenever the protocol collects fees.
In November 2017, an initial coin offering took place, in which $16.2 million was raised by selling one billion AAVE tokens at a price equivalent to $0.0162. At the time, 23% of AAVE tokens were distributed to its founders and the project.
AAVE tokens are built on the ERC-20 standard and are designed to be deflationary. In the event of a deficit in the DeFi protocol, staked tokens will be used as collateral as a last resort.
In July 2020, Aave revealed plans to conduct a token swap. This means that the 1.3 billion AAVE tokens in circulation would be exchanged for the newly minted AAVE cryptocurrency at a ratio of 1:100, creating a total supply of 16 million AAVE. (Three million to be held in reserve.)
How is the Aave Network Secured? 👻
Aave's open-source protocol is built on Ethereum, a blockchain that is currently transitioning from Proof-of-Work to Proof-of-Stake.
Who Are the Founders of Aave?
Aave, and its predecessor ETHLend, were founded by Stani Kulechov. At the time, he was frustrated by the lack of lending apps on Ethereum — and his project was created before decentralized finance existed.
Kulechov is a serial entrepreneur who attended law school and started coding as a teenager. He was an early adopter of the blockchain space. The CEO said he wanted to rebrand ETHLend as Aave so the company could offer a wider range of services beyond Ether lending.
According to Kulechov, Aave’s primary target market is people who are already involved in the cryptocurrency community.
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Where Can You Buy Aave (AAVE)?👀
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😎🤩🤑 16 MILLION COINS, A LUXURY 🚀🚀🚀🚀💰👀
