Open-source non-custodial protocol for decentralized lending and borrowing
Aave, also famously known as LEND, is an open-source and non-custodial protocol to earn interest on deposits and borrow assets. It is one of the biggest DeFi protocols that currently exist on the market. Aave uses Ethereum blockchain as its protocol, supporting decentralized lending and borrowing with ERC20 tokens.
One of their unique products is flash loans. Aave’s flash loans allow users to quickly get trustless and uncollateralized loans where borrowing and repayment must occur in the same transactions. This product specifically targets developers which could lead further for innovative use of DeFi. Aave is headquartered in London, United Kingdom.