Aave Labs is known for its cutting-edge Web 3.0 products built on blockchain technologies. The company has crafted the highly resilient Aave Protocol - a decentralised, open-source, and non-custodial liquidity protocol.
One of its distinctive features is the tokenisation of deposits, allowing users to earn interest in real time as their deposits are transformed into tokens. Depositors contribute liquidity to pools, and borrowers can access this liquidity with variable and stable interest rate options.
Over the years, Aave Labs has branched out with projects such as its Lens social media protocol and Family wallet. However, these projects are now being shut down as the company refocuses its attention on DeFi. This move simplifies the company's structure and puts it in a better position to pursue goals of scaling towards trillions of dollars in onchain financial activity.
Kirsty
Company Specialist at Welcome to the Jungle