Aave

AAVE

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Aave
The Aave protocol for decentralized finance (DeFi) enables lending and borrowing of cryptocurrencies and real-world assets (RWAs) without the need for a centralized middleman. They both earn interest from lending and pay it when they borrow. All of the tokens on the Aave network, known as ERC20 tokens, use the Ethereum blockchain to perform transactions. Aave was initially constructed on top of the Ethereum network. Since then, Aave has expanded to include chains like Avalanche, Fantom, and Harmony. A decentralized autonomous organization, or DAO, is used by the protocol itself. It is therefore run and governed by those who own AAVE tokens and use them to cast their votes. The AAVE protocol is controlled via tokens. The direction of Aave and the way the protocol manages its finances are up for vote by holders of AAVE tokens. One vote is equal to one AAVE token. AAVE tokens can also be posted by users as collateral. When they do, their loan amounts are increased. Borrowers who put up AAVE as collateral can also avoid the borrowing fees and receive a discount on them. The fact that AAVE the token is linked to the Aave DeFi protocol makes it one of the most valuable DeFi coins. AAVE can be purchased or sold on a variety of cryptocurrency exchanges, such as Binance and Huobi Global.
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