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AAVE is the native token of the Aave protocol. This unique token powers transactions on the Aave ecosystem. Aave is one of the leading DeFi projects in the crypto space.
It operates on Ethereum and allows users to borrow and lend a wide range of cryptocurrencies seamlessly.
To use Aave, users need to have an Ethereum wallet, as Aave only supports Ethereum-based tokens, also known as ERC-20 tokens.
AAVE is a governance token, meaning it can be staked on the Aave platform to give users the power to vote and make decisions that affect the future direction of the protocol. Beyond this, users can simply stake AAVE to earn staking rewards. Borrowers who use AAVE as collateral also benefit from discounted fees on the platform.
It is worth noting that AAVE is deflationary since tokens are burned each time users pay fees. AAVE also has an extremely limited maximum supply of just 16 million tokens.
Buying cryptocurrency like AAVE has never been easier. With Coinmama, you can buy AAVE from the comfort of your home or even via your phone while you are on the go! Our industry-leading customer service is available 24/7 to make your purchase simple, smooth, and secure. So, what are you waiting for?
