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AAVE reviews

Average rating of 67% based on 9 reviews.

Founded 7 years ago in 2017.

Headquartered in the United Kingdom.

Use anonymously. No KYC required.

Reviewed by Yunis
7 April 2021 (Updated 17 April 2024)

AAVE Crypto Platform

DeFinda Score™

An impartial, objective analysis of AAVE's features to help you compare platforms. Read our full analysis.
Staking Yields
3
Loan Rates
9
Established
5
Reviews
7
Risk Management
5
Withdrawals
8
Coverage
3
Support
5

AAVE is a cryptocurrency platform that offers savings accounts and loans. AAVE offers savings rates as high as 11.8% APY on deposits, with no hidden fees and instant access to your funds. Instant loans can also be secured against your deposits at rates as low as 0.20198% APY, with no credit checks required. One unique feature of AAVE is that deposited funds that are used as collateral can also simultaneously continue to earn interest.

The AAVE protocol was created in 2017 by a Finnish law student Stani Kulechov. The platform was originally known as ETHLend before being rebranded to AAVE. AAVE has secured investment funding of $49M USD to grow the platform. This comprises $24M USD from ICOs (Initial Coin Offerings), and $25M USD from a venture capital round where Blockchain Capital, Standard Crypto, and Blockchain.com were the leading investors.

AAVE is a decentralized finance (DeFi) protocol where people can earn interest on deposits and borrow assets. AAVE is running on an open source and non-custodial liquidity protocol. Unlike traditional lending marketplaces that look to match borrowers directly to lenders, a liquidity protocol works by placing all the lenders' deposits into a liquidity pool. An algorithm then calculates the rate at which borrowers can borrow from that pool and the savings rate payable to the lenders.

The platform is completely decentralized so it is operated and governed by the users of the platform according to how many AAVE tokens they hold. By being decentralized, the platform doesn’t follow any KYC (Know your customer) rules. Anyone can join the platform, deposit funds, earn interest, borrow, and swap crypto assets. AAVE is built on the Ethereum network and is one of the biggest crypto liquidity providers out there with approximately $10Bn USD of funds on the network.

You can earn interest on your funds by using them to provide liquidity to the network. You can also take out a loan secured against your funds as collateral. Your funds will continue to accrue savings interest even when also used as collateral on a loan.

The AAVE Platform has its own native currency which is also called AAVE. The AAVE token is primarily used for governance so by owning some AAVE tokens you can vote on new proposals for the platform.

The AAVE platform is available wherever you are connected to the internet. It is not regulated because it is a completely decentralised platform.

Pros

tick Very low loan rates available
tick No origination or early redemption fees
tick Interest accrued every second
tick Savings interest payments remain attached to coin even if transferred off platform
tick Fully open source platform
tick One of the largest crypto loan platforms
tick $2,275,420,800 USD currently invested (TVL)

Cons

cross Interface is a bit complex and confusing for amateur users
cross Transaction (gas) fees on the Ethereum network can be high, but AAVE does support a number of much cheaper Ethereum sidechains including Polygon and Avalanche

AAVE Staking Yields

1
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No matching yield products found

AAVE Loans

22 matching crypto loans found
Loyalty Level Setup Fee LTV Rate
Aave v2 variable
None
None
UP TO
70%
9.18%
APY
Aave v2 variable
None
None
UP TO
75%
32.8%
APY
Aave v2 variable
None
None
UP TO
80%
6.25%
APY
Aave v2 fixed
None
None
UP TO
72%
5.23%
APY
Aave v2 fixed
None
None
UP TO
75%
11.9%
APY
Aave v2 fixed
None
None
UP TO
80%
10.9%
APY
Aave v2 fixed
None
None
UP TO
82.5%
4.08%
APY
Polygon variable
None
None
UP TO
65%
1.5%
APY
Polygon variable
None
None
UP TO
70%
0.2%
APY
Polygon variable
None
None
UP TO
75%
11.8%
APY
Polygon variable
None
None
UP TO
80%
2.49%
APY
Polygon fixed
None
None
UP TO
50%
3%
APY
Polygon fixed
None
None
UP TO
65%
7.5%
APY
Polygon fixed
None
None
UP TO
70%
3.5%
APY
Polygon fixed
None
None
UP TO
75%
5.87%
APY
Polygon fixed
None
None
UP TO
80%
9.24%
APY
Avalanche variable
None
None
UP TO
50%
1.49%
APY
Avalanche variable
None
None
UP TO
75%
FROM
10.3%
APY
TO
10.8%
APY
Avalanche variable
None
None
UP TO
80%
2.09%
APY
Avalanche fixed
None
None
UP TO
80%
3%
APY
Avalanche fixed
None
None
UP TO
50%
5%
APY
Avalanche fixed
None
None
UP TO
75%
FROM
5.48%
APY
TO
5.7%
APY

DeFinda Score™

Staking Yields

3

AAVE is not generally known for its high savings rates. Savings rates are quite low on the whole, although occasionally very high savings rates can appear for tokens that are in high demand. Savings interest is generated by depositing your funds in a liquidity pool from which other users can borrow. An algorithm continuously monitors the pool dynamics to determine the interest rate payable to savers.

Read more ...

Loan Rates

9

AAVE offers many highly competitive loan rates, with some tokens available at a variable APY of less than 1%. Loans are available either on either fixed rate or variable rate terms, with the fixed rate loans being significantly more expensive. The whole process is fully automated, without any KYC, so getting a loan is extremely fast.

Read more ...

Established

5

AAVE was founded in 2017 which makes it 6 years old. That's still quite young as the oldest crypto platforms are 16 years old.

AAVE has approximately 75 employees. That makes it one of the smaller crypto platforms by number of employees.

AAVE has a total of approximately 18 billion USD of assets under management. AAVE has one of the largest asset bases of all the crypto platforms. The biggest crypto platforms are managing up to 21 billion USD of assets.

Read more ...

Reviews

7

AAVE has an average expert rating of 72%, and an average user rating of 50%. Expert reviews include Nigeria Bitcoin Community (88%), Bit Compare (70%), CoinPaper.io (42%) and Crypto Studio (60%).

Read more ...

Risk Management

5

AAVE is itself a liquidity pool and some people consider this entire ecosystem to be higher risk. Having said this, AAVE's system has held up well to date, with no major hacks or security breaches.

AAVE is complex product and there remains a risk of a major bug or vulnerability in the code. To counteract this risk AAVE's protocol code is open source so it can be reviewed by anybody, plus it has been through multiple security audits. Finally, there is and active bug bounty campaign with rewards of up to $250,000 for the identification of a critical code issue.

The other key area of risk is in the loan liquidation process. In the event that a loan needs to be liquidated it may not be possible to generate sufficient funds through the sale of the collateral to cover the loan. For example there may be insufficient in the collateral token marketplace to realise the expected value of the collateral.

Read more ...

Withdrawals

8

The AAVE platform is fully decentralised and all deposits and withdrawls are handled completely automatically. This means withdrawls are very fast, and simply depend on the speed of the Ethereum network or side chain. There are no records of AAVE withdrawls being halted or frozen.

Read more ...

Coverage

3

AAVE supports 31 different cryptocurrencies. Key supported cryptocurrencies include Ethereum, Tether, USD Coin, Binance USD, Dai and Wrapped Bitcoin. The biggest crypto platforms offer support for over 33 different cryptocurrencies.

Support for a larger number of cryptocurrencies is helpful if you are looking for trading opportunities, but may be less important if your priority is long term investment in one of the major cryptos.

Read more ...

Support

5

AAVE offers support by email, however they do not offer support by phone or online chat and do not offer 24 hour support.

Read more ...

AAVE Reviews

Based on a total of 9 reviews across the web for AAVE we gave the platform an overall rating of 67%.

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AAVE YouTube Reviews

AAVE Fees

Fees
Exchange fees 0% exchange fees
Limits
Savings crypto account withdrawal limit Unlimited
Loan crypto account withdrawal limit Unlimited
Number of free crypto withdrawals per month Unlimited

AAVE Supported Currencies

AAVE supports over 30 currencies including Ethereum, Tether USDt, Chainlink and Uniswap.

AAVE Languages

AAVE's supports the following languages: English.

Which Crypto Wallets Support AAVE?

AAVE is supported by 6 crypto wallets including the SafePal S1, the CoolWallet Pro and the SecuX W20.

AAVE Key Data

Company
Legal name Aave SAGL
Year founded 2017
Country incorporated in Switzerland
Headquarters country United Kingdom
Decentralised tick Yes
Open source tick Yes
Number of employees 50-100
Total assets under management $18,000,000,000USD more ...$0USD
Products
Savings accounts tick Yes
Loans tick Yes
Crypto to crypto exchange tick Yes
Fiat to crypto exchange cross No
Pro exchange marketplace cross No
Peer to peer exchange cross No
Margin trading cross No
Corporate accounts tick Yes
Instantly buy crypto with fiat cross No
Integrated crypto wallet tick Yes
Crypto withdrawals to private wallet tick Yes
Fast account verification tick Yes
Futures exchange cross No
Security
Cold storage cross No
Two factor authentication cross No
Know your customer cross No
Credit check cross No
Regulators Regulated in the UK by the Financial Conduct Authority
Support
24/7 support cross No
Email support tick Yes
Phone support cross No
Chat support cross No
Fees
Exchange fees 0% exchange fees
Withdrawal process The AAVE platform is fully decentralised and all deposits and withdrawls are handled completely automatically. more ... This means withdrawls are very fast, and simply depend on the speed of the Ethereum network or side chain. There are no records of AAVE withdrawls being halted or frozen.
Savings crypto account withdrawal limit Unlimited
Loan crypto account withdrawal limit Unlimited
Investment Strategy
Liquidity pools tick Yes
DeFi products tick Yes
Key People
Stani Kulechov
Founder and CEO
Jordan Lazaro Gustave
COO
Irene Fucile
Head of Business Development
Rowan van Ginkel
Creative Director
Pablo Candela Andrade
User Success Manager
Andrey Kozlov
Full Stack Developer
Antea Knežević
Graphic Designer
Emilio Frangella
Full Stack Blockchain Developer
Ernesto Boado
Full Stack & Blockchain Developer at Aave
Hadrien Charlanes
Ethereum Engineer
Marc Zeller
Integration Lead
Licenses & Certifications

AAAVE is incorporated in Switzerland, and their headquarters are located in United Kingdom.
ALooking at reviews from across the web, AAVE has an average review score of 67% based on 9 reviews.

Useful Links

AAVE Contact Details

https://aave.com/
AAVE Limited - 71-75 Shelton Street, Covent Garden, London, England, WC2H 9JQ
AAVE SAGL - Piazza Indipendenza 3 Chiasso, TICINO, 6830

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