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What is AAVE coin? Introduction to the issue price, total amount and white paper of AAVE coins
AAVE coin, the native token of the Aave DeFi platform, allows holders to participate in platform governance and receive discounts on trading fees.
Oct 03, 2024 at 03:42 pm
What is AAVE Coin?
Definition:
- AAVE coin (AAVE) is the native cryptocurrency of the Aave decentralized finance (DeFi) platform. Aave is a lending and borrowing protocol that allows users to lend, borrow, and earn interest on various cryptocurrencies.
Issue Price:
- The initial issue price of AAVE was $1.30 when it was launched on January 14, 2020.
Total Amount:
- The total issuance of AAVE coin is 16,000,000 tokens.
White Paper:
- The AAVE white paper, which provides technical and economic details about the project, can be found on the Aave website.
Additional Details:
Use Cases:
- AAVE coins are primarily used as a governance token, allowing holders to participate in platform decisions and shape the future of the Aave protocol.
- AAVE can also be used to receive discounts on trading fees, participate in liquidity mining programs, and earn rewards through staking.
Key Features:
- Decentralized: Aave is a non-custodial platform, which means users maintain control of their assets.
- Interest Earnings: Users can earn interest on their cryptocurrencies by lending them out on the Aave platform.
- Borrowing: Users can borrow cryptocurrencies against their collateral, enabling them to obtain liquidity without selling their assets.
- Stablecoins: AAVE is a stablecoin-friendly protocol, supporting various stablecoins such as DAI, USDC, and USDT.
Token Distribution:
- 11,718,750 AAVE (73.2%) were distributed to the Aave community through a fair launch process.
- 2,529,667 AAVE (15.8%) were reserved for future incentives and development.
- 1,751,583 AAVE (11%) were sold in a strategic sale to investors.
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