What is the most popular DeFi lending platform?
Asked 4 years ago
I want to learn about DeFi lending and get into the world of DeFi. What is the most popular DeFi lending platform?
Pedro Hopkins
Tuesday, June 21, 2022
Aave is the most popular DeFi lending protocol. Established in 2017 as ETHLend and initially Ethereum-based, Aave has expanded to enable DeFi lending and borrowing for a broad range of digital assets across seven blockchains.
It’s an open-source liquidity protocol that creates crypto pools to allow lending for users. The protocol’s native currency, AAVE, facilitates discounted fees when using the platform and as collateral.
The platform provides various DeFi yields and interest rates for each token, which can differ across networks. As an Aave lender, you must pay network fees when locking and withdrawing your tokens.
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