Aave is a DeFi Mechine that Emerges To Prominence in DeFi Ecosystem…Is There Any Better Than AAVE?

Decentralized finance is going to change the concept of finance for billions of the people around the World. Giving us Ordinary citizens Financial Freedom.

The banks have had it their way for hundreds of years, and centralized Finance has become an invisible power. Controlling all aspects of our lives.

But now, the banks are losing their control slowly but surely. And today, I’m going to talk about AAVE, one of the most exciting and promising projects in the Crypt of space.

This is not financial advice. This is only my own opinion. Please, before any investment, do your own research first.

Overview

AAVE is a decentralized lending platform that enables users to lend, borrow and earn interest on crypto assets. There’s no need for a middleman when using AAVE because the entire system runs independently via smart contracts on Ethereum.

Their main goal is to convert centralized Financial Services over to the decentralized equivalence. Currently, the network supports 28 different peep-toe assets, including Ethereum, USDC, USDT, and Chainlink.

Last time I checked on AAVE a couple of months ago that only 17 assets. So they are definitely growing. AAVE, which means ghost in the finish. Entered the market in 2017.

The platform was the first DeFi Landing protocol and when by a completely different name, ETH land.

AAVE Price Development

AAVE has been performing very well this year. Since January 1st. It did 6X just in 40 days. And then they will get some profit-taking.

With the launch of Polygons market in April, It went to an all-time high in May, supported by the general bull market. Since then, it’s dipped with the rest of the market.

That’s some cool announcements in summer, and AAVE started to move up again in mid-July before Bitcoin started to pull up again. And I will get back to do summer announcements and what’s ahead for AAVE towards the end.

What Problems AAVE Solves

I guess you are using a Traditional Bank to manage your cash and any loans or Investments you have. Let’s have a look at how lending and borrowing work with traditional Banks. Read More…