Santa Claus AAVE Coin-AAVE Explained for 2022 New Years
Swami Says: In 2022 AVAX Avalanche Blockchain and the AAVE platform will out perform to bring Christmas Cheer in 2022. Because the AAVE platform is such a special decentralized DEFI platform that it is very important for you to learn. Because whenever we think about AVAX staking we want to know about staking on the AAVE Platform. What is going on with AAVE decentralization? If we do AVAX staking in ourselves, then the crypto profits will return more for our own cryptocurrency education.
The Story of 2022 Crypto depends upon your own individua cryptocurrency education. AAVE Platform provides a Blockchain Platform In which we can borrow, lend, and deposit our crypto and borrow our crypto. So the way a bank works, Aave is working. And working in such an advanced way, we will cover all the things in this crypto review video step by step; so become your own Santa Claus in 2022 for the New Year.
So what is the Aave Coin and Aave Platform?
So what is the Aave Token and Aave Platform? The Aave platform works like a bank on the blockchain, and it is built on the platform of Ethereum, Polychain, and Avalanche. It acts like a decentralized bank, Swami Say: Defi
Meaning: the way the bank works, we deposit money and the bank gives loans to other people. The job of the bank is to earn interest in between. So here the work of Aave Platform is also in this way but it is decentralized.
Every Financial Transaction are written in its smart contract and published on an open ledger. According each blockchain has its own open-source transaction ledger.
This crypto review video talk about Aave which is it’s native token.
What is the meaning of AAVE?
So what is the meaning of AAVE: African American Vernacular English (AAVE) is the variety formerly known as Black English Vernacular, next it means ghost, while in Europe, in the Finnish language, the ghost is called Aave. So the main focus of Aave here is on Lending and Borrowing. Meaning if you have crypto in your wallet. I talk about WazirX in the proposal because the people of WazirX are very upset that there is no staking option in it.
So in this, it happens that you will send crypto to their address by going to their platform and you can do staking here which means you can deposit and you will get the return on that. Suppose you make Matic deposit. So you will get the return that Matic is giving, the other one who is giving Aave will also get it. And the one who belongs to Aave keeps going up and down. So how does up-down happen when they have more deposits, then they reduce the rate of interest like RBI does in India.
And when the deposits with them are reduced, at that time they make the interest rate higher, then it keeps fluctuating. And so does the token that you stack. And you earn about two returns and you get a good return. So this is a decentralized platform, using it is a bit tricky. If you are new, then just watch this video and understand how things are going in the market.
And if you are an expert then you can jump directly into all these from today itself. So this is Defi’s website. On Defi , we see which is the number one landing platform.
Number one is Aave in today’s date. Some time ago if we searched, it used to come in a very low ranking.
AAVE Defi Platform
But in today’s date, it is number one and its dominance is more than 15% in this decentralized world. You are the number one platform Aave and this is its website, so if you want to go to the website, then keep in mind that many scammers have made a website here in the name of Aave. So if you have to go to the website, then we will give a link in the description below, go to it, otherwise go to the website of coingecko, there is an official link to their website, go to it. And the URL of their website is app.aave.
com So keep this in mind because if you just search AAVE, many more will open, which is a copy of them.
After that how to use it? You must have Metamask to use. Will connect Metamask to Ave. But you should have crypto in Metamask, which means first you have to send crypto from whatever exchange you have to the trust wallet.
With Trust Wallet, you can do whatever you want to stake by connecting to Metamask, and here’s what their features are, whatever your portfolio will be displayed in the dashboard Here you can make a deposit. So you can have a look at Aave and we’ll talk more about the token of governance they have.
So these are all things. So if we think to stake Matic then the return we will get here is 0.64% return which aave is giving.
And withdrawal means how can you take a loan in this and you want to take a loan and how can you take it, then you have to pay first to take it, so now people will say that why should we take a loan on our own money, so here What happens, I have bought Ethereum, as of today, I have deposited ₹ 200000 here and I am getting a return on it, after that the money that is there is a block in Ethereum and we will transfer the same money here. Can withdraw as if deposited like gold, we mortgage some goods to buy another and then when it is completed then go back to the goldsmith, after paying our interest, take back the gold Exactly the same things are going on in Decentralize and it is going very well. And everything is decentralized over here.
And there is nothing to be done anywhere else, you have to enter directly. CryptoSwami.Net is crypto review educational videos
So all these things are visible to you, that if we want to do Borrow then click here. And suppose I want to borrow USDT then borrow will allow doing as much as your limit is and as much as you have deposited We are getting 16 USDT on whatever our Matic is deposited here. And if we had accumulated more, we would have got more on that. So here but there is risk and what is this risk. So if the price of Matic goes down, it will sell immediately.
And we will see the rest of the money. So it doesn’t take even the slightest risk. And if we put it at high risk, then it will not take many risks and will sell immediately. So whenever you feel like doing Borrow, you will stay in the Green Zone. So this is their whole system.
So how to use it, then if you want in detail then you have to do one thing. So first the target of likes of this video has to be fulfilled which is 2.5 thousand likes.
And I have to tell in the comment that you are interested in all these things. So we will make a dedicated video in which step by step we will show you how to make a matic wallet, how to make a matic bridge.
How to Connect in Metamask. So you can send your crypto from here. So if you have to do all these things then you have to do two things, one comment and one like. Now let’s talk about their Tokonomics, so which token will we talk about in their Tokonomics. The token they had, in the beginning, was in the name of Lend token and the name of their founder is Stani Kulechov.
And their founders came forward and they announced everything after briefing them well. So in the beginning, when this token came into the market, its name was Lend, then this token used to run under the name Land. And its use was that sometimes you have to pay fees or it was used in many other things. Then after that, it was upgraded and Aave was launched around 2 October 2020. They have their office in London and it is approved by FCA.
The entire system that we are talking about is FCA approved. And whatever their protocol is written in the smart contract, which has been audited by four different people, whatever is their system. He has done a very good job as a security. And the token they have is worth going in the top ten categories. Tokens whose total supply is 16 million is very low.
And they have kept the reserve of three million because as a bank they are dealing themselves and working as a bank, so, for this reason, they have kept a three per cent reserve. And talking about the price of this token, as of today it is running at $377. And when this merger happened, 95% of the people who had Lend tokens had converted. Some people are still lying. And those who had 100 land tokens got one Aave token.
So its future potential is its. The use case of Aave is very high because in the coming time we all will use crypto better. suppose we have $100 and how to use all of that in hundred multiplicity that all will happen only when we use all these platforms gradually This is a futuristic project, if you do not know about it yet, then slowly know it and visit its website.