1) Over $20 million Chainlink is deposited as collateral in AAVE. Link Marines are depositing LINK, borrowing stablecoins, and buying more LINK so they can more than double their stack
2)AAVE is like compound except you can invest in their coin LEND, and AAVE liquidity pools have flash loans.
3)Flash loans are uncollateralized loans you can use if you can prove that your transaction will garner a profit within the next block. Think borrowing $1 million DAI for free and getting money through arbitrage or liquidating someone else's collateral debt position.
4)AAVE will be launching user created liquidity pools. That is, anyone can deposit a big pool of money and set the parameters for borrowing, liquidation thresholds, and allowable collateral.
5)Most importantly, Hack Money event is happening tomorrow. It is an ethereum developer competition for defi projects. The biggest innovations in defi are through flash loans right now. And guess what?
Vitalik is a judge.
You saw what happened when Vitalik mentioned Kleros. AAVE has a much larger scope for potential market share. What do you think will happen when Vitalik mentions AAVE and flash loans?
6) Venture Capital firms haven't even bought in yet. This message is from AAVE's discord today. AAVE is having a funding round in the imminent future. The reason this flew under the radar for so long is because AAVE is a rebrand of ETHLEND, the first lending protocol on Ethereum.
7) Bitcoin is coming to Ethereum so it can be used in defi applications. No more sketchy exchanges, only open source ethereum defi protocols. The first projects to mint Bitcoin on Ethereum in a decentralized way will be the Keep Network with tBTC and Ren with renBTC.
AAVE is the first defi protocol looking to implement these coins as collateral
So is aave a good hold on its own or is it the platform that we should be using?
Charles Perez
It’s both. Whatever collateral you believe in, it helps you leverage it to get more.
Most of Yas Forums uses it to get more chainlink. I like LEND myself. I think the project will get a lot more noise once tBTC and renBTC launch in a week
Lucas Reed
based thread, thanks fren
Oliver Long
let me know when 80 (EIGHTY) % (PERCENT) of the stink airs out
Benjamin Howard
Can you explain more clearly for a brainlet how you use the token to get more LINK? I have a really basic crypto portfolio (BTC, ETH, LINK) and never fuck with other alts, but a lending protocol for individuals with smart contracts making it trustless is pretty based.
Anthony Foster
Doing some quick digging it looks like it has over a billion supply? I might use the platform but probably won't buy it outright
Asher Myers
I just want Yas Forums to have a stake in the defi boom. All of these venture capital firms are making $$$$ off of Makerdao and Compound. Projects that make the community feel like they “made it” or have skin in the game should always triumph.
Colton Evans
Market cap is super low, I wouldn’t judge by #tokens
How can you guarantee I won’t get MAKERDAO’d on this? There was another “Defi lending” site that got abused because of Erc77 and Erc20 token dependencies and anyone who deposited got wiped clean
Owen Wood
Aave developer wrote in length about the exploit and why aave isn’t vulnerable.
