RATE Group | No Collateral Loaning Protocol Aave Launches on Ethereum, Supports 16 Digital Assets
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No Collateral Loaning Protocol Aave Launches on Ethereum, Supports 16 Digital Assets

09 Jan No Collateral Loaning Protocol Aave Launches on Ethereum, Supports 16 Digital Assets

Posted at 17:13h in Ethereum News by

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A no-collateral loaning platform, Aave Protocol, has launched on Ethereum mainnet, supporting nothing less than 16 digital assets at launch.

The platform says it launched with diverse innovative financial tools for the ecosystem, bringing in Flash loans an unmatched feature of Aave protocol.

Flash loan allows users to borrow seamless without delay or collateral. The tool is designed for people/developers who have the requisite technical know-how to customize smart contracts to enable them borrow assets from Aave’s reserve pools. Within one transaction provided they will return the liquidity back to the pool before the end of the transaction.

If the condition is not met, the transaction is reversed and the actions are undone to make sure the safety of the fund is assured.

As well, the protocol introduced a tokenization model, the interest-bearing tokens (aTokens) are pegged 1:1 to the value of the underlying asset. Aave protocol also unveiled…

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