What Is AAVE?

Aave is a decentralized finance protocol that allows people to lend and borrow crypto. Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity. Aave (which means “ghost” in Finnish) was initially known as ETHLend when it launched in November 2017. Still, the rebranding happened in September 2018. (This helps explain why this token’s ticker is so different from its name!) The altcoin provides holders with discounted fees on the platform. It also serves as a governance token — giving owners a say in the future development of the protocol. At Byte Federal, we support AAVE transactions. Find a Byte Federal Bitcoin ATM near you to see just how simple buying and selling cryptocurrency can be. Choose Byte Federal. Go Bank, Yourself. Learn more about AAVE here: https://www.bytefederal.com/aave