What is Aave?
Aave is a decentralized finance (DeFi) protocol that lets people lend and borrow cryptocurrency without having to go through a centralized intermediary. When they lend, they earn interest; when they borrow, they pay interest.
Aave is built atop the Ethereum network. All the tokens on the network also use the Ethereum blockchain to process transactions; they are known as ERC20 tokens.
Thank you for actively participating in the Aave Protocol governance! Feel free to read more proposals and join in the discussion on the governance forum: https://t.co/WZMgayxb64
— Aave (@AaveAave) November 18, 2020
The protocol itself uses a decentralized autonomous organization, or DAO. That means it’s operated and governed by the people who hold—and vote with—AAVE tokens.
Before rebranding as Aave, the product was known as ETHLend. Both were developed by a team led by Stani Kulechov, a Finnish law student.
How lending works on Aave
Traditionally, to get a loan, you’d need to go t
Źródło: https://decrypt.co/71963/what-is-aave-inside-the-defi-lending-protocol
