Luna Sanchez- 01 Jul, 2021
Aave vs Compound
What is Aave? Aave is a platform that started life as ETHlend and has grown to be an influential force in the DeFi (Decentralized Financial) space. …
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What is Aave?
Aave is a decentralised finance protocol that allows users to borrow and lend cryptocurrency using an anonymous platform. Previously known as ETHLend, Aave was launched in November 2017 with the goal of establishing trustless lending interactions supported by smart contracts and blockchain technology. On their network, lenders can earn interest on the amount of cryptocurrency available to borrowers by depositing tokens into a liquidity pool. Borrowers ensure they pay back what’s lent them through crypto collateral deposits while avoiding any centralised authority or middleman (such as banks).
Aave is a decentralised non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralised (perpetually) or undercollateralised (one-block liquidity) fashion.
-(Via Aave.com)
Aave Explained (Video)
Useful Links
Homepage: https://aave.com/
Discord: https://aave.com/discord
Github: https://github.com/aave/aave-protocol
Youtube Channel: https://www.youtube.com/channel/UCZUFYgrvO7xpxzMjijgqWyQ
