With the conclusion of ProBit Global’s commemorative MATIC Exclusive, the listing platform has opted to maintain its DeFi-centric theme with a newly launched ProBit Exclusive starting August 10 featuring 50% off AAVE, the top lending protocol across DeFi.
DeFi has significantly disrupted traditional financial services with ProBit Global enabling holders to gain diversified exposure to the global network effects of Ethereum, off-chain scaling capabilities of Polygon, and the unmatched liquidity across Aave’s lending pools with its newest Exclusive unveiling.
Aave’s adoption has continued to grow at full scale, currently dominating DeFi by 16.73% with over $22B in total liquidity and its primary $17.5B V2 markets leading the charge. aTokens play a core role across the protocol’s 20+ liquidity pools, representing the underlying value of deposited assets along with interest-bearing properties that have continued to attract liquidity providers.
The migration to V2 provided significant upgrades such as expanding flash loan capabilities for their benchmark-setting undercollateralized loans, enabling traders to set up lucrative arbitrage opportunities.
V2 also introduced a preliminary credit delegation feature, which essentially enables a creditor to establish a credit line for potential borrowers based on criteria other than collateral to establish another gateway to procuring uncollateralized loans.
An overarching objective of streamlining multiple markets has expanded Aave markets to Layer 2 mainstay Polygon, which has quickly surpassed the $4B mark as an increasing number of DeFi users continue to endorse its significantly reduced fees.
AAVE also launched its AMM market back in March due to the considerable demand generated from the Uniswap V1 market and now features both UNI and BTP pools to enable Uniswap and Balancer users to post LP tokens as collateral. As part of its decentralized ethos, AAVE governance retains oversight over prospective AMM protocol and collateral onboarding, a significant utility feature behind AAVE tokens.
AAVE stakers can also generate 6.5% APY rewards for locking tokens into the Safety Module currently backed by $1.1B in StkAAVE. The core security mechanism provides a failsafe against shortfall events or cases where liquidity is severely compromised. Aave Balancer Pool (ABPT) liquidity providers earn aBPT tokens that can be locked into the Safety Module to garner 15.1% APR. In the actual event of a shortfall, 30% of all StkAAVE and StkaBPT allocated as safety capital will be used to cover any resulting liquidity deficits.
Users can also liquidate an undercollateralized position whenever a loan’s health factor drops below 1 by re-purchasing a portion of the amount borrowed and earning the right to claim part of the underlying collateral at a discount.
Aave rallied following the announcement of Aave Arc‘s release in August to provide private lending pools for white-listed institutional investors in what is essentially a legitimate DeFi moat to meet the growing institutional interest behind smart-contract-based DeFi protocols.
Founder Stani Kulechov detailed his vision for an Ethereum-based Twitter alternative, pointing to the potential implementation of a DAO to enable content creators to establish transparent monetization channels and ownership while bypassing the restrictive censorship controls that plague the currently leading platforms.
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