Aave
AAVE
4.6
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Market
Market stats
Market cap
$1.1B
Volume (24h)
$90.1M
Circulating supply
14.1M AAVE
Typical hold time
26 days
Popularity
#36
All time high
$666.86
Price change (1h)
+0.64%
Price change (24h)
-2.55%
Price change (7d)
+0.58%
Trading activity
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Aave is on the rise this week.
The price of Aave has risen by 0.58% in the past 7 days. The price declined by 2.55% in the last 24 hours. In just the past hour, the price grew by 0.64%. The current price is $75.24 per AAVE. Aave is 88.72% below the all time high of $666.86.
The current circulating supply is 14,093,192.581 AAVE.
About
Aave (AAVE) is an Ethereum token that powers Aave, a decentralized non-custodial money market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow cryptocurrencies in exchange for paying a variable interest rate.
What Is Aave?
Aave (AAVE) is a lending system that allows users to lend, borrow, and earn interest on crypto assets. The platform is a decentralized money market protocol where users can participate as either borrowers or lenders. Here, borrowers can borrow cryptocurrencies by paying variable interest rates. At the same time, the lenders provide liquidity to the market to earn passive income in the form of interest. In simpler words, Aave is a decentralized finance (DeFi) lending platform that creates an open and transparent system that works without the involvement of any intermediaries.
Running on the Ethereum blockchain, the Aave protocol aims to simplify the borrowing and lending of cryptocurrencies. The Aave protocol is essentially a system of smart contracts that manages the funds and enables instant loans. As per the whitepaper, the protocol algorithmically decides the interest rates for borrowers and lenders on its own. For borrowers, the protocol calculates the interest rate based on the funds available in the pool and the amount of funds the borrower requires. For lenders, the interest rate is calculated based on the earn rate and withdrawals at any time.
The whitepaper indicates that the Aave platform brings two key innovations to the lending ecosystem. Firstly, it provides stable interest rates that help borrowers do financial planning. Secondly, the other unique feature of Aave is the availability of “flash loans.” Flash loans are where the users don’t require any collateral and can quickly get approvals. Collateral is a valuable asset pledged as security for the repayment of a loan. Moreover, these flash loans are instantly settled and can be used by the borrowers for arbitrage opportunities.
AAVE is the native token of the Aave platform. This ERC-20 token is the platform’s cryptocurrency and is primarily used as a governance token. The token is used for voting and deciding the outcomes of the platform’s Aave improvement proposals (AIPs)—proposals to improve the platform. Additionally, the token offers an advantage that users who deposit AAVE as collateral can get a transaction fee discount, and the users who borrow the AAVE are not charged any fee. Aave is a Deflationary Token, and almost 80% of the fee collected by the system is used to burn AAVE. Burning is a process where a fraction of tokens are sent to a wallet with no private key. Hence the tokens are subsequently lost forever. Token burning is done in order to reduce token availability and increase the token value.
History of Aave
Aave was launched in January 2017 by developer Stani Kulechov. He is a Finnish programmer and is currently the CEO of Aave. Stani graduated from the University of Helsinki in 2018 and is an entrepreneur with experience in crypto technology, fintech, and blockchain space.
Stani launched Ethland in 2017, but it was renamed Aave in 2018. The platform conducted an ICO on November 29, 2017, and managed to raise $17.86 million.
The whitepaper of Aave was released in January 2020, and in August 2020, Aave announced version 2 of its protocol. The mainnet of this V2 protocol went live on December 3, 2020.
How Are New AAVE Tokens Created?
Staking in Aave means depositing one’s AAVE tokens within the protocol. The staking is done on the platform to act as a mitigation tool in case of a shortfall event. During a shortfall event, the protocol uses 30% of the assets locked in staking to cover the deficit. As an incentive to supply liquidity to the pool, the protocol rewards the liquidity providers.
The protocol rewards 550 new AAVE tokens per day to be split between the stakers in the proportion of their contribution to the platform. Staking of AAVE can be done by heading over to the Aave app’s staking section and connecting to the respective wallet.
How Many AAVE Tokens Are There?
There is a maximum supply of 16 million AAVE coins.
How to Purchase AAVE
The AAVE token is available on several centralized and decentralized exchanges like Coinbase.
Released: November 2017
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Social
Aave on social media.
Aave was mentioned in 470 out of 1,765,584 social media posts on Twitter and Reddit on Sep 28, 2022. 431 unique individuals are talking about Aave and it is ranked #257 in most mentions and activity from collected posts.
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Key indicators
Contributors
431 people
Posts
470 posts
Dominance
0.03%
Volume rank
#257
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News
Decrypt • Aug 01, 22
What Is Aave? Inside the DeFi Lending Protocol
The Defiant • Jul 12, 22
Celsius Withdraws $400M Worth of Staked Ether from Aave
Decrypt • Jul 07, 22
DeFi Giant Aave Wants to Launch Its Own Stablecoin
The Block • Feb 07, 22
Aave officially debuts protocol for decentralized social media, dubbed Lens
Blockworks • Feb 01, 22
21Shares Aims to Have ETPs for Top 50 ‘Quality Assets’ by End of 2022
The Block • Jan 26, 22
HAL secures $3 million seed funding and integration with DeFi platform Aave
FAQ
What is the current price of Aave?
The price of 1 Aave currently costs $75.24.
What is the market cap of Aave?
The current market cap of Aave is $1.06B. A high market cap implies that the asset is highly valued by the market.
What is the all time high of Aave?
The all-time high of Aave is $666.86. This all-time high is highest price paid for Aave since it was launched.
What is the 24 hour trading volume of Aave?
Over the last 24 hours, the trading volume of Aave is $90.10M.
What other assets are similar to Aave?
Assets that have a similar market cap to Aave include Wrapped BNB, EOS, Elrond, and many others. To see a full list, see our comparable market cap assets.
How many Aave are there?
The current circulating supply of Aave is 14 million.
What is the typical holding time of Aave?
The median time that Coinbase customers hold Aave before selling it or sending it to another account or address is 26 days.
What is the relative popularity of Aave?
Aave ranks 60 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
What is the current trading activity of Aave?
Currently, 81% of Coinbase users are buying Aave. In other words, 81% of Coinbase customers have increased their net position in Aave over the past 24 hours through trading.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.
