Aave (AAVE) explained in 6 steps

Aave is a decentralized finance (DeFi) project, and it carries the same name as its cryptocurrency.

  1. When and by whom was it founded?

It was created in 2017 by Stani Kulechov. The name of the token was changed from its former name LEND to Aave. Aave means “ghost” in Finnish.

  1. The Infrastructure of Aave

Aave has an ERC-20-based and open source infrastructure on the Ethereum blockchain. Like all DeFi projects, it operates without the need of a mediator and by being supported by smart contracts and protocols.

  1. What does Aave promise to the users?

Aave is the developed version of the project created to offer Ether credits on the Ethereum blockchain. It provides the required infrastructure for various transactions such as borrowing and lending in all ERC-20-based cryptocurrency units. It is a system where the lenders place the digital assets they own in specially formed liquidity pools and earn interest, and borrowers pledge the assets they own as collateral in return for using this liquidity.

  1. Is Aave mined?

Aave is not a type of cryptocurrency that is mined. It is offered by system developers at certain intervals.

  1. The lowest and highest price with the total supply

The highest price of AAVE was $559.12 on February 10, 2021, and the lowest price was $25.97 on November 5, 2020. With a total supply of 16,000,000 AAVE, the circulating supply of the cryptocurrency is 12,368,893 AAVE.

  1. How to make Aave transactions on Paribu?

You can click on the link and make your Aave transactions on Paribu right away.

Bu içerik en son 26 October 2022 tarihinde güncellenmiştir.


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