Instant Crypto Exchange Flyp.me Goes Live With Aave (AAVE) Trading
In today's rejuvenated cryptocurrency market, decentralized finance (DeFi) is the star of the show. It's fair to ask who kicked the DeFi movement off — the answer to that is Aave (AAVE).
Now, you can swap AAVE, the native crypto asset of the Aave DeFi protocol, at Flyp.me, the world's preferred instant crypto exchange that doesn't require an account to use.
AAVE is the future of finance, so why not add it to your portfolio of digital assets? Head over to Flyp.me and complete three easy steps to invest in AAVE.
- Select the cryptocurrency you will use to exchange. Then, enter your AAVE wallet destination address, and the transaction amount.
- Enter a refund address for the cryptocurrency wallet you are exchanging from (ie. if trading with ETH, enter an ETH wallet address).
- Send selected cryptocurrency to the Flyp.me transfer wallet address.
Nice, welcome to DeFi! Flyp.me will automatically send AAVE to your destination wallet.
So, what is the big deal about decentralized finance protocols like Aave (AAVE), anyway? Let's take a quick dive into the reasons why AAVE is creating tidal waves across crypto.
Aave Is the Protocol for Decentralized Liquidity Markets
For many, the idea of a liquidity market is completely new. However, if you've taken out a quick loan or other short term financial instrument, then you're probably familiar with the term.
In short, Aave's liquidity market is essentially a place for lenders and borrowers to exchange cryptocurrency assets without intermediaries. Using Aave, borrowers can take out loans against ERC20 tokens like BAT, REP, and SNX, while lenders can deposit stablecoins like DAI, USDT, and sUSD to earn interest.
The brilliance of the protocol lies in the fact that the entire market operates using smart contracts. Traditionally, to borrow money, you need to go through a centralized financial institution, such as a bank. Collateralized funds are, of course, limited to fiat currency — using crypto to collateralize a bank loan is out of the question.
Aave changes the game by creating a decentralized financial services economy around native crypto assets. The response to the Aave Protocol has been nothing short of astounding. Today, over $5 billion in assets is currently locked in Aave smart contracts. Moreover, its growth shows no signs of ebbing any time soon.
How the Aave Token (AAVE) Works
Clearly, the Aave Protocol is being adopted around the entire cryptocurrency industry by platforms and retail users alike. How do you get in on the action, even if you aren't looking to lend or borrow?
Easy — buy and hold AAVE token. it currently does not mean you will earn any protocol fees (this may change if the governance votes on it though). However, AAVE holders can stake their AAVE in the Safety Module and earn 400 AAVE/day (split between all stakers) in turn for securing the protocol. But, even more interesting is the fact that platform fees are also used to burn AAVE tokens from the supply.
Hop in using Flyp.me before AAVE does its next token burn! Buying AAVE with Flyp.me is super easy and doesn't require an account or registration to use.