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What is Aave?

Aave is a decentralized lending platform that allows lending and borrowing without intermediaries. The platform lets individuals borrow or lend money, including real-world assets, through peer-to-peer systems. The governance actions are decided through a DAO, which uses the native token AAVE. Aave was launched in 2017 and later expanded to other networks like Avalanche, Harmony, and Fantom. Decentralized Finance (DeFi) protocols do not have middlemen and rely on smart contracts for transactions. DeFi benefits include autonomy, accessibility, security, and opportunities. Aave uses a pool-to-peer system to address liquidity and dependency issues. Borrowers must put in higher collateral through overcollateralization.

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