Aave (AAVE) Tausch
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What is Aave?
Aave is a blockchain project that allows individuals to borrow and lend in a decentralised environment. Lenders provide liquidity by depositing money into a pool.
Those looking to borrow offer collateral that is higher than the amount that they are looking to borrow. The loans are offered in the protocol's token called LEND. Users can convert LEND to Ethereum or any cryptocurrency.
The process of converting the borrowed tokens is easy. The protocol itself, AAVE, is one of the many DeFi projects that offer a solution to the world's unbanked populations. The project was started in 2017 and has grown significantly over the years and now accepts multiple assets as loan collateral.
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