Aave

Aave

How to register?

Aave (formerly EthLend) is a DeFi platform that offers crypto savings accounts and crypto loans. Like most other DeFi platforms, Aave is more suited for experienced crypto investors that have a deep understanding of the asset class.

Savings Accounts
17
Collateral
17
Loans
Transparency
Jurisdictions
200+
Languages
EN + 4
CeFi/DeFi
DeFi
Business Accounts

Pros

  • As KYC is not necessary, there is no onboarding and the app can be used immediately Account Opening
  • Interest is accrued and compounded in real-time Compound interest
  • Borrowers can choose between variable and fixed interest rates Base Rate (loans)
  • Interest rates are calculated transparently based on risk and utilization rate Base Rate
  • There is no maximum or minimum loan amount Crypto-loans
  • There is no maximum or minimum deposit Savings accounts
  • There are no withdrawal limits Withdrawal Limits
  • Aave offers the flash loan functionality Crypto-loans
All pros

Cons

  • The app is not easy to use for noCoiners but more tailored to experienced crypto users Look & Feel
  • Interest rates fluctuate significantly, making it more difficult to plan ahead Base Rate
  • Aave users can only use Ethereum-based cryptocurrencies Currencies
  • The protocol includes a liquidation penalty of 5% if a loan is liquidated Fees
  • Aave users don't get a margin call but have to keep an eye on their LTV ("health factor") by themselves Loan Liquidation
  • Aave is only available on desktop Mobile App
  • Die Zinsen unterscheiden sich abhängig davon ob man Aave Protokoll Vs.1 oder Vs. 2 wählt. Das kann verwirrend sein Nachvollziehbarkeit der Zinsen
All cons

The interest rates at Aave

BAT
BAT
BUSD
BUSD
DAI
DAI
ETH
ETH
KNC
KNC
AAVE
AAVE
LINK
LINK
MANA
MANA
MKR
MKR
REP
REP
SNX
SNX
SUSD
SUSD
TUSD
TUSD
USDC
USDC
USDT
USDT
WBTC
WBTC
ZRX
ZRX
Basic
Max
0.2%
0.2%
16.3%
16.3%
8.3%
8.3%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0.1%
0.1%
31.7%
31.7%
33.4%
33.4%
11.6%
11.6%
10.9%
10.9%
0.2%
0.2%
0.4%
0.4%
Basic
Max
1.4%
4.4%
11.8%
16.3%
8.7%
13.3%
3.2%
8%
1%
3.2%
3%
7.4%
0.8%
3%
0.3%
3%
0%
0%
7%
17.8%
31.7%
31.7%
15%
33.4%
9.3%
13.3%
9.1%
13.3%
0.2%
0.2%
2%
4.4%

For Expert-Lenders

Aave is a DeFi platform, which has advantages and disadvantages. It's great that Aave calculates interest rates in real-time and the team behind the platform makes a legit impression in interviews and on events. For those who are interested in DeFi lending, Aave is well-worth observing, especially their work in the area of crypto flash loans.

Aave

A community-driven company with a vision

Aave in the CryptoStudio-Check

  • Overview
  • Savings Accounts
  • Crypto Loans
  • Security
  • User Experience
  • Business Review
Overview
Platform Score
based on 5 categories
Search icon Savings Accounts
based on 9 criteria
Search icon Crypto-Loans
based on 10 criteria
Search icon Security
based on 8 criteria
Search icon User Experience
based on 13 criteria
Search icon Business Review
based on 5 criteria

Pros

As KYC is not necessary, there is no onboarding and the app can be used immediately

Account Opening

Interest is accrued and compounded in real-time

Compound interest

Borrowers can choose between variable and fixed interest rates

Base Rate (loans)

Interest rates are calculated transparently based on risk and utilization rate

Base Rate

There is no maximum or minimum loan amount

Crypto-loans

There is no maximum or minimum deposit

Savings accounts

There are no withdrawal limits

Withdrawal Limits

Aave offers the flash loan functionality

Crypto-loans

Cons

The app is not easy to use for noCoiners but more tailored to experienced crypto users

Look & Feel

Interest rates fluctuate significantly, making it more difficult to plan ahead

Base Rate

Aave users can only use Ethereum-based cryptocurrencies

Currencies

The protocol includes a liquidation penalty of 5% if a loan is liquidated

Fees

Aave users don't get a margin call but have to keep an eye on their LTV ("health factor") by themselves

Loan Liquidation

Aave is only available on desktop

Mobile App

Die Zinsen unterscheiden sich abhängig davon ob man Aave Protokoll Vs.1 oder Vs. 2 wählt. Das kann verwirrend sein

Nachvollziehbarkeit der Zinsen
Savings Accounts
Rating:
Search icon Currencies:
17: BAT, BUSD, DAI, ETH, KNC, AAVE, LINK, MANA, MKR, REP, SNX, SUSD, TUSD, USDC, USDT, WBTC, ZRX
Search icon Fiat Savings Accounts:
No
Search icon Base Rate:
0.2% for WBTC, 0% for ETH, 10.9% for USDT
Search icon Maximum Interest:
Aave does not distinguish between base rate and maximum rate
Search icon Lock-up Periods:
Flexible
Search icon Minimum Deposit:
No minimum deposit
Search icon Compound interest:
Interest is accrued by the second and you can see it increasing in real-time
Search icon Withdrawal Limits:
Unlimited
Search icon Currency of Interest Payments:
"In-kind" (same currency as deposit currency)
Crypto Loans
Rating:
Search icon Maturity:
There is no maturity date, the loan works like a credit line
Search icon Minimum Loan:
No minimum
Search icon Maximum Loan:
No maximum
Search icon Loan currency:
Crypto
Search icon Accepted Collateral:
17
Search icon Loan Liquidation:
The liquidation threshold depends on the loan currency, usually, it's around 80%. There are no margin calls and Aave charges a liquidation fee of around 5%
Search icon Stress Test March 2020:
As a DeFi platform, Aave's liquidation procedures are purely smart contract-based, meaning there are no human employees who can step in during situations like in March 2020. That said, Aave's liquidation procedures worked well during the flash crash
Search icon Base Rate:
Stable and variable rates, which vary widely depending on the collateral currency. WBTC-secured loans currently cost [variable borrow_rate WBTC] and ETH-secured loans cost 0.15%
Search icon Minimum Interest:
There is no difference between base and minumum rates. Borrowers can choose between a stable and variable rate
Search icon Loan to Value Ratio:
Depending on the currency of the collateral
Security
Rating:
Search icon Withdrawal Speed:
Unlimited
Search icon Regulations:
As Aave is a DeFi platform it is not regulated
Search icon Team Transparency:
The founder makes public presentations and is visible at conferences. The website mentions the team members but without surnames or contact details
Search icon Crypto-Custody:
No third-party custody service, the user is responsible for custody
Search icon Security Settings:
Aave does not offer a wallet, meaning users are mostly responsible for their own security. Depending on the user's level of experience, that can be an advantage or a disadvantage
Search icon Terms & Conditions:
As Aave is a DeFi platform, it does not have any legally binding terms and conditions
Search icon Data Transparency:
There is comprehensive documentation available on Github, AuM and the number of users are transparent
Search icon Security Hacks:
There are no reports about any successful security hacks
User Experience
Rating:
Search icon Account Opening:
No registration needed
Search icon Business Accounts:
Yes
Search icon Mobile App:
No app available
Search icon Desktop App:
Yes
Search icon Wallet Admin:
Yes
Search icon Reporting:
Aave does not offer any reporting functionalities. Users can use third-party apps to generate their own reports
Search icon Coin-Reporting:
Aave provides a reporting in the respective cryptocurrency and in US dollar
Search icon Look & Feel:
Feature-rich, but confusing for crypto lending beginners
Search icon Customer Service:
There is no customer support
Search icon Interest Rate Transparency:
Aave's interest rates are transparent
Search icon Countries:
200+
Search icon Fees:
There are transaction fees for Ethereum blockchain usage and liquidation fees if loans are liquidated
Search icon Languages:
EN + 4
Business Review
Rating:
Search icon Financing:
Aave (ETHlend at the time) raised $16 milllion with an ICO in 2017
Search icon CEO Track Record:
Founder Stani Kulechov has had almost no management or entrepreneurial experience before launching Aave. As Aave is a DeFi platform, his function is not comparable to a CEO of a private company but more to a community organizer
Search icon Assets under Management:
1-1.5 bn USD, this figure is publicly available
Search icon User Base:
15,000 active users, this data is publicly available
Search icon Community Interaction:
Participates in the public discussion online. As Aave is a DeFi platform, there is not much focus on engaging with the end-user
Aave

User-friendly mobile App and efficient customer support

Aave Look & Feel

As Aave is a DeFi platform, there is no KYC and registration, there is no wallet administration, and no customer support. The user interface can be confusing for inexperienced crypto users and the app is only available on desktop.

Registering with Aave is easy and straightforward and takes only a few minutes.

Step 1

Aave is only available on desktop, there is no Android (APK) or iPhone (iOS) mobile app to download. Go to www.aave.com and click "Enter app."

Step 2

Choose your wallet to connect with Aave's DeFi protocol.

Step 3

You can also connect with Aave through Metamask.

Step 4

The green dot in the upper right corner confirms that your wallet is connected with Aave. Be aware that there are two protocols, Aave V1 and Aave V2, which offer different rates.

to the Website *

All information is unofficial and subject to change. Links marked with an asterisk (*) may be affiliate links