Aave Price

$0.5035 -1.990%
Market cap$293,348,320.66
Volume (24h)$0
Highest price (24h)$2.384
Circulating supply128,274,591.826 LEND

Aave describes itself as a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by supplying liquidity to lending pools, while borrowers procure overcollateralized loans from these liquidity pools. Deposits are tokenized as aTokens, which accrue interest in real-time. “Aave” is a Finnish word for “ghost”. The ghost represents Aave’s focus on creating a transparent and open infrastructure for decentralized finance. Aave plans to introduce liquidity mining and staking rewards for those locking up in their LEND tokens. Staked tokens will act as collateral of last resort in the event of a shortfall. A governance proposal regarding incentives is being deliberated on. Its flash paper proposes a path to the decentralization and autonomy of the Aave Protocol by synthesizing Aavenomics and introducing a framework leveraging financial incentives and multilevel governance to prioritize the safety and sustainability of Aave.