What is $AAVE (Aave)? Exploring Ethereum DeFi And Staking Rewards
$AAVE is an ERC-20 token issued by Ethereum-based defi protocol Aave, it is primarily used to facilitate platform governance voting and is also a primary component in Aave's lending tools.
Spot trading of AAVE/USDC opens on Backpack Exchange on July 15th.
Trade AAVE on Backpack Exchange.
Ticker: $LDO
Circulating Supply: 14,867,770
Total Supply: 16,000,000
Max Supply: 16,000,000
What is $AAVE?
$AAVE is an ERC-20 token issued by Ethereum-based defi protocol Aave in 2020.
It is primarily used to facilitate platform governance voting and is also a primary component in Aave's lending tools.
Proposals are generated by the Aave team or community and then voted on, the volume of $AAVE a user holds determines how many votes they have.
Staking $AAVE provides a hedge against lending/borrowing shortfalls. In return for staking, users earn staking rewards in form of more $AAVE.
Trade AAVE on Backpack Exchange.
$AAVE is also issued as a reward for providing liquidity to Aave crypto lending pools.
What is Aave on Ethereum?
Aave is a decentralized platform which uses the $AAVE token to facilitate governance voting, the token is also used to reward users who support the protocol.
Aave's history begins with now-renamed ETHLend in 2017, it was a P2P lending dapp.
Finnish founders changed the name from ETHLend to Aave ("ghost" in Finnish) in 2018 and began work on the Aave Protocol which would allow the platform to expand their product offerings.
Trade AAVE on Backpack Exchange.
Since then the Ethereum-based platform has become a juggernaut in the defi lending and borrowing world.
They began expanding to a multichain protocol in 2021 with the integrations of Polygon and Avalanche (later on adding Fantom, Arbitrum and Optimism).
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July 15, 2024