Categories
Article

Stackin’ Sats: Aave

Every week we want to show you easy ways you can stack sats, with no trading, no mining, no staking involved. This week we are going to take a look at Aave.

August 22, 2020

Get involved in DeFi

Every week we want to show you easy ways you can stack sats, with no trading or mining involved. This week we are going to take a look at Aave.

Aave is a DeFi Money Market Protocol that allows users to easily earn interest by depositing cryptocurrency into the protocol. “Aave” is a Finnish word which translates to “ghost” in English. The ghost represents Aave’s focus of creating a transparent and open infrastructure for decentralized finance.

Aave is open source and a non-custodial protocol. Additionally, it allows users to take out loans from the protocol with a specific rate of interest attached.

The platform provides interest for deposits in a wide range of cryptocurrency which includes:

  • DAI
  • KNC
  • LINK
  • MKR
  • USDC
  • TUSD
  • USDT
  • BUSD
  • ETH

Aave is also the pioneer of flash loans. Flash Loans rely heavily on the timing of the loan’s repayment. As long as the loan is used and paid back in full within the same block it was issued, it is approved. On the other hand, if the loan is not paid back within the same block, the entire transaction fails.

Aave leverages a native token  – LEND – that provides holders with discounted fees. In the near future, LEND will also be staked for governance and as a first line of defense for outstanding loans.

Aave has seen significant growth in 2020, most of which can be tracked using Aave Watch – a tool to monitor key metrics like borrows and fees collected. Similarly, users can check out Aave Burn to see how many protocol fees have been used to burn LEND off the open market.

If you’re interested in Aave visit their site below:

SPONSOR

This episode is brought to you in assistance with our sponsors Crypto.com and Crypto Jobs Daily.

CRYPTO.COM

BTC at 50% off on Syndicate! We’ve allocated USD$2,000,000 to The Syndicate – for one day only – to mark the day our Exchange exits Beta.

Sign up for a chance to win $500 of BTC!

New users can also get a $50 sign up bonus by clicking on the link below.

CRYPTO JOBS DAILY

The Number 1 Place To Find Work In The Blockchain Industry. Connect With Companies Hiring In A Few Clicks And Find Your Dream Job Today!

There has never been a better time to find a job in the blockchain industry, with companies recruiting at a record pace. We have over 200 jobs listed from over 100 blockchain companies. Click below and start looking for your new career in blockchain.