Aave (AAVE) is a leading decentralized finance (DeFi) protocol that enables users to lend and borrow cryptocurrencies without intermediaries. By leveraging smart contracts on the Ethereum blockchain, Aave provides an open, transparent, and non-custodial financial system where users maintain control over their assets.

WHAT IS AAVE?
Aave is an open-source DeFi lending protocol that allows users to earn interest on deposits and borrow assets in a trustless, automated way. Initially launched as ETHLend in 2017 and later rebranded to Aave, the platform supports a wide range of crypto assets and offers innovative features like flash loans and interest rate switching.

KEY FEATURES

• Decentralized Lending & Borrowing: Users can deposit assets to earn interest or use them as collateral to borrow other cryptocurrencies directly from the protocol.

• Flash Loans: Unique to Aave, flash loans allow users to borrow instantly and repay within a single transaction—ideal for arbitrage and other DeFi strategies.

• Interest Rate Switching: Borrowers can switch between stable and variable interest rates to better manage market volatility.

• Governance: AAVE token holders can participate in protocol governance, voting on key decisions and upgrades.