What is AAVE?

_{Aave (AAVE)What is it?}

AAVE is a Decentralized Lending and Borrowing Protocol (Decentralized Lending and Borrowing Protocol).
Powered by AAVE on the Ethereum network, it uses smart contracts
To enable users to borrow and borrow cryptocurrencies safely and efficiently.
AAVE focuses on improving the functioning of the digital lending market through the presentation of additional features.
For example, uncollateralized loans and the use of AAVE coins as the main collateral for loans.

_{Native Blockchain:}‍

AAVE runs on the Ethereum network, a blockchain based on smart contracts technology.
And DeFi (Decentralized Finance). Ethereum is a blockchain platform open to the development of smart contracts.
and decentralized applications, which AAVE uses to manage the lending and lending of digital assets.

_{Founder/Date Founded:}‍

The founder of AAVE is Stani Kulechov and was founded in 2017. AAVE was originally launched as EthLend.
Before changing its name to AAVE and expanding its functionality in September 2018.

_{Objective/Use Case:‍}

The purpose of AAVE is to create a viable decentralized lending and lending market for digital assets.
WHERE USERS CAN BORROW AND BORROW SAFELY AND EFFICIENTLY. THE MAIN FEATURES OF AAVE SUCH AS

Lending & Borrowing: The lending and borrowing of cryptocurrencies, in which the lender receives interest and the borrower is required to place collateral.

Flash Loans: Loans without collateral that must be repaid within a single transaction

Governance: Participation in decision-making and the development of protocols through voting

_{Total Supply/ Limit or Unlimited:}

AAVE MEDALS HAVE A TOTAL NUMBER OF MEDALS SET AT 16,000,000 AAVE
This means that there is a limit on the number of coins that can be produced. The number of coins that remain in the system will not exceed this amount.

_{Supply Deflation:‍}

AAVE has a coin metabolism system called the “Burn Mechanism”.
This reduces the number of coins circulating in the system. Coin metabolism occurs through fees collected from various transactions.
And it is one way to manage the supply of coins to balance the market.

_Source:‍

coinmarketcap
docs.aave
github
app.aave
whitepaper

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