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2022-04-18 23:30:13
How to purchase Aave (AAVE)

What is Aave
What Is Aave (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 originally known as ETHLend when it launched in November 2017, but the rebranding to Aave happened in September 2018. (This helps explain why this token’s ticker is so different from its name!)
AAVE provides holders with discounted fees on the platform, and it also serves as a governance token — giving owners a say in the future development of the protocol.
Who Are the Founders of Aave?

Aave, and its predecessor ETHLend, were founded by Stani Kulechov. At the time, he was frustrated at the lack of lending applications on Ethereum — and his project was built before decentralized finance even existed.
Kulechov is a serial entrepreneur who went to law school and began programming when he was a teenager. He was an early adopter in the blockchain space. The CEO has said that he wanted to rebrand ETHLend as Aave so the company could offer a wider range of services beyond Ether lending.
According to Kulechov, Aave’s main target market are people who are already engaged in the cryptocurrency community.
What Makes Aave Unique?

Aave has several unique selling points when compared with competitors in an increasingly crowded market. During the DeFi craze in the summer of 2020, it was one of the biggest projects in terms of the total value of crypto locked in its protocol.
The project allows people to borrow and lend in about 20 cryptocurrencies, meaning that users have a greater amount of choice. One of Aave’s flagship products are “flash loans,” which have been billed as the first uncollateralized loan option in the DeFi space. There’s a catch: they must be paid back within the same transaction.
Another big selling point is how those who borrow through Aave can alternate between fixed and variable interest rates. While fixed rates can provide some certainty about costs during times of volatility in the crypto markets, variable rates can come in handy if the borrower thinks that prices will fall in the near future.
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How Many AAVE (AAVE) Coins Are There in Circulation?

Circulation is linked to the total value locked on Aave, as tokens are burned whenever the protocol gathers fees.
An initial coin offering was held in November 2017, where $16.2 million was raised by selling one billion AAVE tokens at a rate equivalent to $0.0162 a piece. At the time, 23% of AAVE tokens were assigned to its founders and project.
AAVE tokens have been built based on the ERC-20 standard, and they are designed to be deflationary. In the event of a shortfall in the DeFi protocol, staked tokens would be used as collateral as a last resort.
In July 2020, Aave unveiled plans to hold a token swap. This means that the 1.3 billion AAVE tokens in circulation would be swapped for the newly minted AAVE cryptocurrency at a ratio of 1:100, creating a total supply of 16 million AAVE. (Three million of this would be held in reserve.)
How Is the Aave Network Secured?

Aave’s open-source protocol is built on Ethereum, a blockchain that is currently making the transition from Proof-of-Work to Proof-of-Stake.
Where Can You Buy Aave (AAVE)?

Some of the biggest exchanges that list AAVE tokens include CoinDCX, Binance, CoinBene and OKEx. You can find out more about how to convert fiat into crypto here.
How to buy AAVE?
  • How to buy AAVE on Neko Invest app
    For more information:
    How to download and use Neko Invest app
    • Step 1 :  Create/Login to your Neko Invest app account
    • Step 2 :  Go to Market page, click on the Search icon and search AAVE in the search bar.
    • Step 3 :  Click on AAVE logo and choose Invest.
    • Step 4 :  Entering the amount of AAVE that you want to buy. Then click on the Get Quotes button.
    • Step 5 :  Swipe the Swipe to swap button and now you own AAVE. You can check your AAVE balance in your wallet by going to Wallet page.
Contract Addresses
Aave (Polygon) : 0xd6df932a45c0f255f85145f286ea0b292b21c90b
Aave (Avalanche Contract Chain) : 0x8ce2dee54bb9921a2ae0a63dbb2df8ed88b91dd9
Aave (Heco) : 0x202b4936fe1a82a4965220860ae46d7d3939bb25
Aave (Xdai chain) : 0xDF613aF6B44a31299E48131e9347F034347E2F00
Aave (Fantom) : 0x6a07A792ab2965C72a5B8088d3a069A7aC3a993B
Aave Token (Ethereum) : 0x7fc66500c84a76ad7e9c93437bfc5ac33e2ddae9
Aave Token (Binance Smart Chain) : 0xfb6115445bff7b52feb98650c87f44907e58f802
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