Aave is a decentralised, non-custodial liquidity protocol that enables anybody to borrow and lend a variety of digital property.
It started as Lend (LEND) in 2017, rebranded, and began migrating the earlier token to AAVE in October 2020.
The platform is obtainable in numerous iterations: Variations 1, 2, and three. In response to an Aave Docs entry, the latter gives improved capital efficiencies, larger safety, and cross-chain performance whereas permitting for prime decentralisation.
Whereas its focus remains to be on peer-to-peer (P2P) borrowing and lending of crypto property, the protocol remains to be restricted to Ethereum and some ERC-20 tokens, largely stablecoins. Thus, it excludes a large chunk of the digital asset house by being unable to take care of Bitcoin immediately.
Nonetheless, there’s a workaround: Wrapped Bitcoin (WBTC).
A wrapped asset is a token (normally issued on Ethereum’s blockchain) representing the unique asset, with its worth being roughly pegged to the native coin.
I imagine cryptos on different blockchains, reminiscent of ADA, BNB, XRP, SOL, and AVAX, will ultimately be obtainable in a wrapped type as this market matures.
The place are tokens obtainable by its platform stored? In response to its web site FAQs:
