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List of All AAVE Coins and Cryptocurrencies
June 2024

AAVE is a leading decentralized cryptocurrency platform where users can borrow and lend crypto assets. AAVE has ATokens on the platform to maximize asset security.

What is AAVE?

AAVE is a decentralized cryptocurrency trade and exchange platform where users can borrow and lend crypto assets. AAVE was founded by Stani Kulechov in 2017 as an open source protocol to create a cryptocurrency marketplace to provide liquidity for lenders and borrowers.

AAVE is a leading decentralized crypto finance platform currently managing more than 12 Billion USD assets across seven different networks. AAVE platform supports Ethereum, Polygon, Avalanche, Arbitrum, Fantom, Harmony, and Optimism Networks.

AAVE is a decentralized protocol that doesn’t require users to pass a KYC (Know your Customer) type rule. Anyone can connect a web wallet or mobile software wallet and start anonymously using the platform. AAVE doesn’t accept bank deposits. It would be best if you topped up your web or software wallet with funds from an external medium.

What are AAVE Coins?

AAVE is the platform's native utility token. Users can use AAVE tokens to pay less fees on trades. Holding AAVE tokens gives some advantages on the platform, such as higher APR and reduces transfer fees. AAVE is an ERC-20 token built on the Ethereum blockchain network.

There are ATokens on the platform. Their price is equal to the original asset price. Some of the AAVE platform's pegged tokens are aTUSD, aLINK, aSNX, aMKR, aBAT, aBUSD, and aDAI. The underlying asset is securely stored in cold wallets to avoid any kind of loss. You can visit  ATokens on the AAVE page to learn more. 

You can get ATokens by locking funds in liquidity pools. ATokens can be minted and burned by supplying and withdrawing assets on the AAVE markets. Users can generate yield by locking assets. AAVE offers a very competitive APR on cryptocurrency deposits.

aTUSD, aBUSD, and aDAI are stablecoins. Original stablecoins are held in cold storage, and the shards of originals with the letter 'a' are used on the platform. This is an extra security layer for the assets. There are also aSUSD, aUSDC, and aUSDT tokens on the platform.

aLINK, aSNX, aMKR, and aBAT tokens are like wrapped tokens of originals on the platform. The real coins are held in cold storages, and wrapped versions are used on the system to avoid any loss against hacking, theft, or an error. There are also other wrapped tokens of aMANA, aKNC, aZRX, and aWBTC.

Advantages of ATokens

Using ATokens on the AAVE protocol is safe because the original assets are locked in liquidity pools which is a smart contract running on the Ethereum blockchain. ATokens are interest-bearing derivative tokens. Users can earn interest by holding and locking their ATokens. The interest gained on the Atokens will be distributed among the holders, and the received interest can be transferred to any Ethereum wallet.

AAVE hackings in history

Hackers exploited the decentralized cryptocurrency platform AAVE on April 17, 2022. The hackers got away with $80 Million worth of cryptocurrencies. The hacking was classified as a Flash Loan Attack. Flash loans are a new innovative, unusual type of loan that AAVE offers. There have been other hackings and losses because of the flash loans. Flash loans allow users to borrow funds without giving any collateral. Flash loans are risky assets.

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Article by Yunis
16 August 2022 (Updated 16 June 2024)
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