Decentralized finance protocol Aave (AAVE) altcoin The price spiked after its founder announced that he would launch a Twitter Spaces post with the headline “secret product launch.”
Announcement hyped by Aave Altcoin Founder Was Blank
The hype increased even more after Aave altcoin founder Stani Kulechov wanted to reach more listeners to open the said broadcast and then said that “web3 is not ready for this”.
The founder then shared a countdown and made an announcement that he would “become a father” after the countdown.
https://t.co/m80ILw9I1D
— Stani.lens (🌿,👻) (@StaniKulechov) February 3, 2023
After it was understood that the announcement was not related to Aave, the price of the Aave altcoin made a sudden drop.
oh, people cryptocurrency It is a decentralized finance protocol that allows lending and receiving.
Lenders earn interest by investing their digital assets in specially created liquidity pools. Borrowers can then use their crypto as collateral and use this liquidity to get a flash loan.
Aave (meaning “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but its rebranding as Aave took place in September 2018.
AAVE provides token holders with discounted fees on the platform and also serves as a governance token, giving holders a say in the future evolution of the protocol.
Aave and its predecessor, ETHLend, were founded by Stani Kulechov. At the time, he was frustrated by the lack of lending applications in Ethereum and had built his project before decentralized finance even existed.
*Not investment advice.
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