What you need to know
What makes Aave unique?
Aave positions itself as liquidity protocol. This means Aave can become a central tool for the crypto market by providing liquidity in a simple and cost efficient way. Borrowers get stable rates and can borrow without collateral (flash loans).
Does it have customer proof?
Aave started as ETHLend in 2017 but was renamed after changing its lending strategy from direct loans to pool-based ones. IBM is a lead investor while liquidity went to several billions and holder count to 100.000 people since launch in 2020.
What is the utility of the token?
Users can earn interest by offering credits to others or they can get a credit themselves (flash loan). The AAVE token controls governance e.g. proposing, voting and deciding on new additions, features, assets and the protocol parameters.