Aave is a decentralised, non-custodial liquidity protocol that enables anybody to borrow and lend a variety of digital belongings.
It started as Lend (LEND) in 2017, rebranded, and began migrating the earlier token to AAVE in October 2020.
The platform is offered in numerous iterations: Variations 1, 2, and three. In accordance with an Aave Docs entry, the latter gives improved capital efficiencies, higher safety, and cross-chain performance whereas permitting for prime decentralisation.
Whereas its focus remains to be on peer-to-peer (P2P) borrowing and lending of crypto belongings, the protocol remains to be restricted to Ethereum and some ERC-20 tokens, largely stablecoins. Thus, it excludes a large chunk of the digital asset house by being unable to take care of Bitcoin instantly.
Nevertheless, there’s a workaround: Wrapped Bitcoin (WBTC).
A wrapped asset is a token (normally issued on Ethereum’s blockchain) representing the unique asset, with its value being kind of pegged to the native coin.
I imagine cryptos on different blockchains, corresponding to ADA, BNB, XRP, SOL, and AVAX, will finally be accessible in a wrapped kind as this market matures.
The place are tokens accessible by means of its platform stored? In accordance with its web site FAQs:
