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An update on Aave and LEND staking
An update on Aave and LEND staking
Defi

An update on Aave and LEND staking

By Alfredo de Candia - 8 May 2020

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The Aave team recently showcased a glimpse of what will be the new update of the platform with regard to the integration of the staking with the LEND token and much more.

The major update is in fact the one involving the governance of the system and the staking of LEND, which will provide a greater advantage both for the low trading fees (currently amount to 0.25%) and for how the loans will be distributed.

Aave and Set Protocol

Another interesting aspect is that of being able to use the Set Protocol and therefore engage in lending with this token, interacting with another piece of decentralized finance: in fact, Set Protocol allows managing a very large basket of cryptocurrencies.

It is worth remembering that the Aave protocol allows placing different cryptocurrencies in staking, from the most famous ones such as different stablecoins to other crypto assets that are more niche such as Decentraland (MANA), 0x (ZRX), Synthetix (SNX) and with really incredible rates, which often touch double-digit numbers.

The same applies to loans with the respective cryptocurrencies because they also have very advantageous interest rates and therefore attract those who want to take advantage of this service rather than the one offered by centralized exchanges.

Aave among the top 10 DeFi projects for use

The numbers of Aave are very impressive: in fact, the protocol has already exceeded the threshold of 60 million dollars, proof that this system has already attracted a lot of attention.

Finally, Aave has recently formed a partnership with Tether and this is paying off. It has also been praised by Sergey Nazarov of Chainlink, not to mention the fact that Aave is already among the 10 most used protocols in the world of decentralized finance (DeFi).

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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