Aave (AAVE)
- Official Website: aave.com
- Definition: Aave is a decentralized lending and borrowing protocol on Ethereum.
- Category: DeFi, Token.
- What It Is: A platform for earning interest on deposits and borrowing assets.
- Function: Enables decentralized lending and borrowing without intermediaries.
- Analogy: Think of Aave as a digital bank. You can deposit money to earn interest or borrow assets when needed.
- Pros: Decentralized, no KYC, strong community.
- Cons: High gas fees, smart contract risks.
- Controversies: Regulatory scrutiny, competition from other DeFi platforms.
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This page was last updated on January 28, 2025.
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