What Is Aave? A Beginner’s Guide

Key Takeaways

  • Aave is a lending protocol that maintains a pool from which users can borrow cryptocurrencies and deposit liquidity to. Alternatively, advanced users can use flash loans with the condition to repay it within a block time;
  • The native token of Aave protocol is AAVE. The tokens back the security of the protocol;
  • Aave is governed by a DAO, in which AAVE holders vote for Aave improvement proposals proportionally to their stake.

What is Aave?

Aave logo
Source: Cointribune

Flash Loans​​

Flash loan flowchart
Source: AAVE v1 whitepaper

History and Team behind Aave

What is AAVE?

AAVE token details

What is AAVE Crypto Used For?

Comparison with Similar Projects

Aave vs Compound

What is Aave Crypto Protocol Criticized For?

What is Aave’s Future?

Aave on Social Media

How to store AAVE?

How to exchange AAVE with ChangeHero?

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives. The Best Rate transactions will use the rate current to the time when your funds arrive.
    The Fixed Rate will use the rate at the time of step 1;
  5. As soon as the exchange has been processed, your AAVE is on the way to your wallet.

Conclusion

FAQ

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