What is Aave?
Formerly known as ETHLend, Aave targets one of the major financial problems of today - loans. The existing financial institutions often "discriminate" when it comes to young people, first-time borrowers, or people form underdeveloped parts of the world. The ETHLend team proposes a creation of a decentralized p2p lending platform. On there, anyone can borrow or lend their cryptocurrency in a safe and transparent manner with interest rates set by the free market, not by financial institutions. The project builds upon the Ethereum blockchain technology and uses its smart contracts to regulate the crediting process. The LEND token allows users zero fee lending if it is used as a medium of exchange, discount if it is used as a collateral, promotion of loans, reduction of late penalty fees, rewards, platform voting and more. The user's credit reputation is managed with a secondary token dubbed Credit token. These non-tradable tokens are minted at successful loan repayment.
|Current Aave Price
|Circulating / Total Supply||1,299,999,941 LEND
|Source Code||Code Repository|
ATH Daily Volume
YTD Daily High/Low
Aave active markets
|Market Ticker||Traded Against||Traded On||Average Price||24h Volume|
|LEND/BTC||Bitcoin||Binance, Bibox, Bilaxy, Poloniex, HitBTC, YoBit||0.00003405 BTC||$14,174,987|
|LEND/ETH||Ethereum||Bibox, Binance, HitBTC, IDEX, YoBit||0.00101623 ETH||$3,845,354|