Lend and borrow platform, designed in a way that every user is capable of creating his own wrapped or lent tokens. Aave enables zero-trust lending for traders and average crypto users, providing coins bound by smart contracts, and therefore impossible to steal.
Originally ETHLend launched in 2017 but rebranded as «Ghost» — or Aave — in Finnish in 2018. Token holders enjoy decreased fees for transfers on the platform, while also having increased voting power. Each digital asset, present on the platform, is backed by a dedicated liquidity pool, while staking rights are represented by specialized LP tokens.
Aave is used by major exchangers, swap, and liquidity protocols to obtain additional liquidity during increased market volatility. According to Kulechov, Aave’s main target market is people who are already engaged in the cryptocurrency community.