¿What is AAVE?
Aave is an open source and distributed DeFi protocol, it has a structured team of 20 people, with headquarters located in London and Switzerland.
It is also known as the network that runs under a fully decentralized virtual bank, built on the Ethereum blockchain.
It was officially launched in 2017 by Stain Kulechov.
In this protocol, loans are made with or without collateral, where any user can serve as a lender, being an innovative platform for the market.
¿What does it offer?
Aave has its own token called AAVE.
It offers that the owners of the token can vote on the operation of the project and in turn intervene in the direction of the protocol.
In addition, it has a staking operation in which users have the access to block the service if that is what they want.
¿How does it work?
Aave works in a similar way to a lending market (the loan between individuals refers to loans offered from individuals to other individuals without the intervention of a traditional financial institution), where investors can add liquidity to a certain pool, in order to to acquire dividends from the commissions of each operation made in said network.
AAVE works under an AMM model algorithmic system, the entire ecosystem of incentives, commissions and asset value is linked to a strong automated system of smart contracts.
It is a feature designed for developers and users who have the technical knowledge of the robust language.
This allows access to a loan from a provision pool quickly, without using any collateral as guarantee of the loan.
The loan must be used and returned in the same line of the transaction, otherwise the loan is returned to the reserve and all movements executed up to that point are reinstated.
This is done to solidify the protection of pool funds.
¿Why do people use AAVE?
People use AAVE due to its great popularity and relatives of decentralized finance system, in turn the platform has a volume of 47.6 million USD.
¿How is AAVE different from other platforms?
Unlike other protocols, Aave is open source, giving access to any user who participates in APIs or directly with smart contracts on the Ethereum network.
This platform gives cryptocurrency users access to funds and services in a transparent way.
The AAVE token gives its holders access to intervene in the development of the Aave protocol.
¿Where can i buy it?
One of the ways where you can buy AAVE is through Binance as it has a lot of tradable variety in the trade, you can exchange a cryptocurrency, fiat cryptocurrencies or just use a debit or credit card to buy the stablecoin, deposits are also allowed banking.
¿Where to find more information?
For more information such as movements, prices, explorers, contracts and more you can visit the following link: https://coinmarketcap.com/
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