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AAVE is a token of the Ethereum network that underpins Aave, a decentralized, non-custodial money market protocol in which users can participate by depositing or borrowing.
Depositors provide liquidity to the market to earn passive income, while those who borrow can borrow cryptocurrency in exchange for paying a variable interest rate.
Aave is a decentralized lending protocol that allows users to lend or borrow cryptocurrency without going to a centralized intermediary. Users deposit digital assets in “liquidity pools”, which are converted into funds that the protocol can lend.
To apply for a loan, you have to go to the official Aave website: https://app.aave.com/borrow and connect your wallet, it will show you the maximum you can ask for (all this depends on the collateral you have deposited on the platform)
This platform was originally born under the name of ETHLend, with the same concept as it is today: Decentralized Finance (DeFi) lending platform. It was founded in 2017 by Helsinki-based programmer Stani Kulechov.
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