Aave (LEND)

Launched in January 2020, Aave is a decentralized money market protocol where users can deposit and borrow tokens on a peer-to-peer lending platform. Using smart contracts with the Ethereum blockchain, the Aave protocol allows users and applications to interact with the smart contracts through their web3 providers.

For borrowers in a money market, the interest rate for the money market accounts is based on how many funds are available in the lending pool at any given time. If the amount of funds decreases, then the interest rate is higher.

For lenders, they earn interest on their deposits into the lending pool. The interest rate determines the earn rate. The algorithm also protects the liquidity reserve to guarantee withdrawals.

Aave (LEND) To USD | LEND Conversion Calculator

What is Aave (LEND)?

Aave uses the LEND cryptocurrency and operates on the Ethereum platform. LEND is a tradable token. Aave has a current supply of 1.3 billion LEND tokens, which is its maximum supply. Aave also has a market cap of $343 million. The LEND token powers Aave’s two in-house finance markets: Aave Market and Uniswap Market.

Users can deposit, borrow, repay, redeem, liquidate, flash loan, or swap tokens with the lending pool reserves. Using decentralized on-chain governance, the Aave Protocol allows multiple lending pools with separate liquidity, parameters, permissions, and type of assets. The LEND token controls the rights of the protocol.

Aave (LEND) Ticker Chart

About Aave (LEND)

The Uniswap Market is a secondary money market that allows Uniswap Liquidity Provider (LP) token holders to leverage their LP tokens to borrow funds. Only compatible with Uniswap v1, the Uniswap Market utilizes the same contract architecture as the Aave Market but uses an alternative set of smart contracts.