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What is AAVE ?

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A decentralized project to facilitate services like lending and borrowing using crypto assets

  • Aave was started in 2017 by the name ETHLend, a decentralized project to facilitate services like lending and borrowing using crypto assets. The token involved was then called LEND.
  • Later in 2018-19, during the crypto bear market, there was a lack of liquidity on the platform and the team worked on revamping the platform. In early 2020, ETHLend was rebranded as Aave protocol with efficient solutions to address the liquidity problems faced by ETHLend. Along with the protocol, the team introduced the AAVE token, which is the backbone of governance and a security collateral in the protocol.
  • The Aave protocol also introduced a Safety Module (SI) and uses a liquidity pool to deal with liquidity issues. The safety module is a smart contract-based component where users can stake their AAVE token and get rewarded with safety incentives and fee distributions. Tokens staked in the SI will be used as a last resort in case of a shortfall, which is an event where the protocol lacks liquidity on the platform.
  • Another interesting feature of the Aave protocol is the ability to choose an interest rate.

Why buy AAVE?

  • Holders of AAVE can vote for the Aave improvement proposals (AIP), which are proposals to upgrade the protocols in the future. One AAVE token gives the holder the right of one vote in the decision making of AIPs.
  • With a market capitalization of 5.6 billion, AAVE is one of the best performing DeFi tokens out there and places itself in the first 20 cryptocurrencies and among the first five DeFi tokens by market capitalization.

Getting Started

1. Create an Account

Register with your phone number, and submit your KYC documents

2. Make a Deposit

Add crypto to your ZebPay wallet, or link your bank account to buy crypto for the first time

3. Start Trading!

You can even buy Bitcoin in fractions, for as little as a ₹100!

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