Aave is an open source and non-custodial protocol enabling the creation of money markets. Depositors can earn interest on deposits and borrow assets. Aave Protocol supports more than 15 different assets, with a large selection of stablecoins.
Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but rebranded now to Aave. The migration from LEND to AAVE is the first step in the Aavenomics. Migrating from LEND to AAVE token allows the users to participate actively on the Aave Protocol governance and stake within the protocol Safety Module.