Aave [OLD] Lend Price USD

Aave is a protocol for decentralised finance that lets people lend and borrow cryptocurrency.

Lenders get interest when they put digital assets into liquidity pools that were made just for them. Using this liquidity, people who want to borrow money can then use their crypto as collateral to get a flash loan.

When it first came out in November 2017, Aave was called ETHLend. In September 2018, it changed its name to Aave, which means "ghost" in Finnish. (This helps explain why this token's ticker and name are so different!)

LEND holders get a discount on platform fees, and it also acts as a governance token, giving them a say in how the protocol will change in the future.

Stani Kulechov started both Aave and ETHLend, the service that came before it. At the time, he was upset that Ethereum didn't have any lending apps, and his project was built before decentralised finance even existed.

Kulechov is an entrepreneur who has started many businesses. He went to law school and started programming when he was a teenager. He was one of the first people to use blockchain technology. The CEO said that he wanted to change ETHLend's name to Aave so that the company could offer more than just Ether loans.

Kulechov says that the main people Aave wants to reach are those who are already involved in the cryptocurrency community.

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