Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Aave is a decentralized money market protocol that enables users to lend and borrow cryptocurrencies in a trustless manner. There is a wide variety of cryptocurrencies to choose from, and Aave offers both stable and variable interest rates to its users.
We’re looking closer at Aave today because it is quickly establishing itself as a market leader in the lending and borrowing sector of decentralized finance (DeFi). Like other DeFi protocols, there are no lengthy registrations to contend with, nor any KYC (Know Your Customer) or AML (Anti Money Laundering) documents required.
To transact on Aave, lenders must deposit funds into liquidity pools, and users can then borrow from these pools. Each pool sets assets aside as reserves to hedge against volatility. These reserves also help ensure that lenders can withdraw their funds when they’re ready to exit the protocol.
Aave has close to 20 different cryptocurrencies available for...