Aave

Aave is a lending and borrowing platform built on the Ethereum blockchain, operating in a decentralized manner. It empowers users to acquire loans by offering crypto assets as collateral. Lenders who contribute collateral to Aave receive aTokens, which passively generate interest from platform trading fees. Aave has introduced the innovative concept of ‘flash loans,’ enabling lending without the need for collateral, provided that the principal is repaid within the same Ethereum transaction block.