$AAVE is a decentralized finance (DeFi) protocol that lets users lend and borrow crypto assets without intermediaries. Built on Ethereum, it uses smart contracts to enable trustless transactions. Users can earn interest by supplying liquidity or borrow assets by providing collateral. The AAVE token is used for governance, allowing holders to vote on protocol updates. One of its key features is flash loans—instant, uncollateralized loans repaid within a single transaction. AAVE supports various assets and offers flexible interest rate options. It has expanded to multiple blockchains, aiming to reduce fees and increase scalability.
