Review on Aave by erdi yılmaz
Aave and Lend
Aave caught my attention after a report I read in the past weeks. Coinbasepro, a major cryptocurrency exchange, listed Aave. I learned that Defi is one of the big projects I decided to invest.
In short, the Aave platform is a platform where members can give loans to each other. Members can lend money to each other regardless of the laws of that country, regardless of the country they live in. This is a formation independent from the protocols of financial institutions such as banks. I liked this aspect very much.
Aave allows you to borrow over 15 cryptocurrencies. LEND tokens need to be collateralized before you can borrow money. LEND is the Aave platform's own token based on ERC-20. Also, you have the chance to earn interest from the collateral tokens you deposit in the pool.
The important point here is to choose the right cryptocurrency to borrow. It is possible to make a profit with a selection determined according to the dynamism of the market. Wrong choices can result in harm.
Nice platform, good project. I like it. I earned my first interest on LEND tokens that I deposited in the pool.
Pros
- Listed on the Coinbasepro stock exchange and increased in value
- a great innovation for financial systems
- It ranks among the top applications of Defi
Cons
- I don't see any negativity
