Aave

Aave

AAVE, also known as "Aave Protocol," is a decentralized finance (DeFi) platform built on the Ethereum blockchain. It allows users to lend and borrow various cryptocurrencies without the need for intermediaries such as banks. AAVE operates using a unique system of "flash loans," which allow users to borrow funds without any collateral, as long as the loan is repaid within the same transaction. This innovative feature has been credited with enabling a wide range of new use cases for DeFi, including arbitrage, collateral swaps, and more. The AAVE token is the native cryptocurrency of the AAVE protocol, and it is used to govern the platform's operations, including deciding on proposed changes to the protocol and paying for transaction fees. It has seen significant growth in value since its launch in 2020, reflecting the growing interest in DeFi and the broader adoption of blockchain technology.

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