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.
— DeFi Rate (@DefiRate) May 7, 2020
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).