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184,890 Aave positions opened on eToro
Aave is an altcoin cryptocurrency and one of the largest emerging decentralised finance (DeFi) coins by market cap. The company behind the coin was formed in 2017 by Stani Kulechov and is based in Switzerland. Originally known as ETHLend, Kulechov changed the name to Aave, meaning ‘ghost’ in Finnish, in 2018. Listed as AAVE on crypto exchanges, the coin is the governance token for the Aave protocol. Aave is an Ethereum-based currency using software that enables the creation of lending pools, allowing users to lend or borrow up to 17 different cryptocurrencies. As with other systems based on Ethereum, those investing in Aave must post collateral before they can borrow. Borrowers receive tokens, known as aTokens, the value of which is linked to the value of another asset. The Aave protocol has been audited and secured, and the coin derives its value from its finite supply, with a total cap of 16 million AAVE available. Keep up to date with AAVE value changes on eToro.