February 25, 2021

Defi Aave Project Review (LAND)

Defi Aave Project Review (LAND)

In the next review we will see the new DeFi projectAave and land token.

Aave is a decentralized financial protocol that allows users to borrow and borrow cryptocurrency.

The history of Aave

Aave means "ghost" in Finnish."It was practically the first lending protocol, long before decentralized financing even existed.The platform had some popularity, and decided to break into the DeFi space.The team launched the Aave protocol, adding new features that forever changed the DeFi industry.

According to Kulechev, the main target market for Aave is users who are already involved in the cryptocurrency community.

What makes Aave unique?

Aave has several unique advantages.

The project enables users to borrow funds in 20 cryptocurrencies, which means that users have more choice.

The Aave Protocol was officially launched on January 9.It solved the problem of peer-to-peer inefficiency between borrowers and lenders and introduced a decentralized DLP credit pool.Investors deposit the cryptocurrency into a decentralized credit pool and receive interest on the deposit.Borrower blocks, borrows from loan pool, paysInterest during the block and repayments on credit.to meet the needs of both borrowers and lenders in a timely manner, improving the efficiency of the use of products.

One of Aave's flagship products is "fast loans," the first optionIt allows users to borrow large amounts of cryptocurrency without collateral.The only limitation is that they must be returned by the time the next Ethereum block is mined.The commission for the instant loan is 0.3%.

Another important argument is the ability of Aave borrowers to alternate fixed and variable interest rates.While fixed rates may provide some confidence in spending during times of volatility in cryptocurrency markets, variable rates mayuseful if the borrower believes that prices will fall in the near future.

Aave token features

Tokens allow creditors to earn their interest.

For placing funds on Aave, the user receives an equivalent amount in the tokens of the platform.

Every second, a small portion of the relevant tokens is added to the user's Ethereum wallet in accordance with the annual interest rate for the chosen asset.Tokens can be exchanged for the equivalent amount of the underlying asset in Aave during withdrawal.

The appeal of tokens is related to the total value of funds locked on Aave, as tokens are burned whenever the protocol collectsCommission.

AAVE tokens are based on the ERC-20 standard and are designed for deflationary use.

The initial placement of the coin was held in November 2017, when Aave was operating under the name ETHlend.The ICO managed to raise $16.2 millionsales of one billion LEND tokens at a rate equivalent to $0.0162.For the moment23% of AAVE tokens were transferred to its founders and the project.

The token is used to pay the protocol fees and is burned.This means that the LEND token is a deflationary asset.

Where to buy AAVE ?

Some of the largest exchanges support AAVE token trading, including CoinDCX, Binance, CoinBene and OKEx.About 45% of all transactions are held in LEND/BTC, LEND/USDT, LEND/ETH pairs.

Where to store AAVE

Created by the ERC-20 standard, tokens can be stored in the MEW wallet.The Trust Wallet app or Ledger Nano hardware safe will also be suitable.

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