Aave allows its users to act as borrowers and lenders. Technically, it is a decentralised open-source protocol running on Ethereum that allows the creation of money markets. Its users can, on one side, deposit digital assets to earn interest on them. On the other side, users can also borrow assets in both an overcollateralised and undercollateralised way. AAVE is the governance token of the Aave protocol and used to be called LEND before a migration that happened in October 2020.
Aave market stats
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