Swap Aave (AAVE) Instantly

Aave was previously called ETHLend, and its scope was a peer-to-peer lending protocol on Ethereum. Even this simple premise was enough to raise $16.2 million in an ICO in 2017. As the platform grew and switched to a liquidity pool model with a wider choice of currencies, they rebranded to Aave (Finnish for “ghost”) in 2020. The rebrand came just in time for a bull market, when AAVE reached peaks of $494.56 and $632.27.Considering the price dynamic since then, various sources give AAVE predictions from $280 to $1,200 by the end of 2022. AAVE forecast for 2025 is more moderate — from $300 to $500 — and by 2030, the AAVE token is expected to appreciate to $2,000–2,400.

Previously known as ETHLend, Aave is a lending protocol that maintains a pool from which users can borrow cryptocurrencies and deposit liquidity to. Alternatively, advanced users can use flash loans with the condition to repay it within a block time.The native token of the Aave protocol is AAVE. The tokens back the security of the protocol with a Proof-of-Stake consensus algorithm. Aave is governed by a DAO, in which AAVE holders vote for Aave improvement proposals (AIPs) proportionally to their stake.