Buy Aave (LEND)

Aave Price

35.31

  • Market Cap Rank

    33

  • Total Supply

    1299999941.70317

  • Circulating Supply

    1256361931.84917

  • 24h Low

    32.68

  • 24h High

    37.13

  • 24h Vol

    10405200187

Exchange

Price of 1 LEND ~ 600,000 INR
For 100 INR you will get 0.00045 LEND

Buy Aave in India

The Aave platform also supports 15 cryptocurrency tokens on its platform and is planning to increase this number in time. These tokens include DAI, USD coin (USDC), TrueUSD (TUSD), USDT coin (USDT), sUSD, Binance USD (BUSD), Ethereum (ETH), Basic Attention Token (BAT), Kyber Network (KNC), Chainlink (LINK), Decentraland (MANA), Maker (MKR), Augur (REP), SNK, WBTC coin (WBTC), and Ox coin (ZRX).

What is Aave ?

Aave is a London based decentralized cryptocurrency lending platform that was created in September 2018. The platform is the first crypto lending platform that operated on the principles of DeFi when it was first launched in 2017 under the name of ETHlend. The platform allows users to borrow and lend cryptocurrency assets in a decentralized and trustless medium. The platform also aims at eliminating the need for middlemen from the procedure and does not require the KYC (Know Your Customer) or other Anti-Money Laundering measures that are usually required in other platforms and even financial institutions.

History of Aave ?

Aave has created a name for itself among the defi coins list with its unique idea of providing access to its users to its open-source and non-custodial protocol to create customized markets, thus bringing the cryptocurrency in the leagues of a growing list of projects that aim to bring decentralized options to the masses. The platform utilizes the Ethereum network to create their platform and aim to fill in the blank that centralized fintech industries left. In 2020, the platform created the Aave Protocol which marked the shift from a peer to peer system lending system to a pool-based strategy.

How does Aave work?

Aave works quite differently from other crypto lending platforms as it is a trustless platform. The platform involves lenders depositing their crypto assets in a common pool from which users can borrow assets. The platform automatically sets aside a small percentage of the amount as a reserve that is to be utilized as a hedge against volatility that is rampant in the crypto market. Other than that, this also allows users to withdraw their deposited amount at any time.In order to ensure that borrowers return the amount that they borrowed, Aave requires users to deposit a collateral amount against the amount that they will be borrowing. The platform offers overcollateralized loans, which means that users will have to provide collateral that is more than the amount they will be borrowing (in USD) from the platform and usually lies in the range of 50 to 75 percent. The Aave platform utilizes the Aave protocol which is a major shift from the previous protocol that was being used by its predecessor, ETHlent. The shift resulted in the platform going from its previous decentralized peer to peer lending mechanism to a pool-based strategy. The Aave Protocol which was adopted in 2020 is a non-custodial and open-source protocol that allows users to set up their own markets on the Ethereum blockchain.

What Benefits of Aave?

Aave was the first Decentralized Finance cryptocurrency lending platform that was created and came up with many revolutionary ideas that went on to be adopted by other cryptocurrency networks. One of the most innovative features of the Aave platform is Flash Loans. Flash Loans allow users to borrow crypto assets from the Aave pool without having to deposit any collateral. The loan is given out to users on the condition that the liquidity is returned to the platform’s pool within a stipulated amount of time, failure of which would result in the transaction getting reversed and hence guaranteeing the safety of the funds present in the pool. Another unique feature of the platform is Rate Switching. This feature allows borrowers to switch between floating and fixed interest rates which are quite useful in a volatile and decentralized market of cryptocurrency. Borrowers that are dealing with higher interest rates can opt for a fixed interest rate which would not change according to any fluctuation in the crypto market, hence avoiding the chances of increasing the borrowing costs. On the other hand, borrowers with a small interest rate would opt for a floating interest rate if they are confident that the rates would drop with the fluctuation in the crypto market.

LEND token!

Built using the ERC20 standard, which is the same as that of Ethereum (ETH), the LEND token is the local cryptocurrency token of the Aave platform and is used to conduct transactions and obtain other resources that are available on the platform. The coin is also used for a reduction in fees. The tokens that are used for reducing fees are burnt and almost 80 percent of the tokens have already been utilized, suggesting that the price of the LEND coin might increase in the near future. The tokens can also be used for voting on Aave Improvement proposals (AIPs). The owners of LEND tokens can vote even if their LEND tokens are being used as collateral.

Where can I buy Aave Crypto?

The Demand of Aave DeFi Coin is Increasing these day. buyUcoin.com make it easy to convert your local currency into and out of Aave by providing a secure, safe and user friendly platform Whether you want to buy Aave in India or you want to sell Aave (LEND) in India. The most secure and safest platform in India is BuyUCoin. It is the best Indian Exchange which offers LEND to INR trading pairs. It is India’s most secure, dedicated, User friendly and trusted digital exchange. At BuyUCoin you can not only buy/ sell Aave in inr but also more than 100 cryptocurrencies and It follows payment industry best practices with strict KYC-AML policies because of these features BuyUCoin become a leader in Indian cryptocurrency Market of cryptocurrency exchanges.

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