Aave is a decentralized finance lending platform that allows you take out instantaneous loans of cryptocurrency using other cryptocurrency you own as collateral. Rob_Stevens_ explains how it works:
To supply an asset on Aave, head to the market, and select the blockchain and version of Aave you want to contribute to. For instance, in this example, we’ve selected Ethereum and Aave v2:
Once selected, you can scroll through the list of “Assets to supply,” choose the asset you want to lend, then hit “supply.” At this point, you’ll enter the amount of the asset that you’d like to provide and confirm the transaction in an in-browser wallet, such as MetaMask. Returns vary by asset; as of this writing, supplying ETH on Aave v2 provides an annual return of 0.7%.Borrowing assets works similarly, just in reverse.
,” which is a number that represents the safety of the asset you deposit as collateral against the borrowed assets. The higher that number is, the better, but keeping that number above 1 is key for the safety of your deposit.” – an instantaneous crypto loan that doesn’t require any collateral, so long as the loan can be repaid in the same transaction.
Flash loans became infamous in the early 2020s after several coders used them to overload the systems of other DeFi protocols. Flash loans could temporarily lower the price of a token by manipulating the ratio of funds inAave governance and token
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