Aave is an Ethereum-based, decentralized, open-source, non-custodial money market protocol that allows the users to deposit and borrow cryptocurrency without any middle-man.
The AAVE system is managed by smart contracts where the asset deposited by the depositor maintains the liquidity of the market. Depositor also earns income from their deposit. And the borrower takes out a loan by depositing collateral.
The platform uses Chainlink’s decentralized oracles for the cryptocurrencies price feed. Find more details here.
The protocol supports 16 different assets including 5 stablecoins: BAT, DAI, ETH, KNC, END, LINK, MANA, MKR, REP, TUSD, USDC, USDT, WBTC, ZRX, SUSD, and SNX.
Currently, it supports two markets:-
- AAVE Market
- Uniswap Market
To connect with the AAVE platform, go to the link.
The platform landing page looks like this.
The platform supports many wallets through which you can connect and use the protocol.