Token $AAVE is the native governance token of the Aave protocol, which is one of the largest decentralized finance (DeFi) protocols on the Ethereum network and others. 🌐

Here are the key details about it:

🔹 What is Aave?

Aave is a decentralized lending and borrowing protocol.

It allows users to deposit cryptocurrencies into liquidity pools in exchange for earning interest.

In return, other users can borrow digital assets from these pools with interest payments.

🔹 Uses of Token $AAVE :

1. Governance: AAVE holders can vote on important decisions regarding the protocol's development.

2. Staking: The token can be staked in the “Safety Module” to protect the protocol from risks, in exchange for rewards.

3. Reduced Fees: Using AAVE may offer benefits such as reduced borrowing fees.

🔹 Advantages of the Aave Protocol:

It supports dozens of currencies like ETH, USDT, DAI, and others.

It offers the feature of flash loans, which are quick loans that are repaid in the same transaction (useful for developers and traders).

It is characterized by complete decentralization (no intermediaries).

🔹 Token: AAVE

🔹 Launch: 2020 (after being rebranded from an old project named $ETH Lend)

🔹 Maximum Supply: Approximately 16 million tokens only (making it relatively rare).

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