Abstract
Aave is a decentralized finance (DeFi) protocol that allows users to lend and borrow cryptocurrencies. Users can earn interest by depositing their crypto assets into liquidity pools, and borrow crypto by using their assets as collateral. Aave also offers features such as flash loans, which are uncollateralized loans that must be repaid within one transaction, and the ability to switch between fixed and variable interest rates. Aave has its own native token, AAVE, which is used for governance and fee discounts on the platform.