Get the Aave Token and Safely Secure it on Numio

What is the Aave Protocol?

The Aave Protocol is currently the largest DeFi protocol on the Ethereum blockchain (by total value locked). The protocol allows users to supply and borrow certain cryptoassets, and earn yield on assets supplied to the protocol. Numio, an ETH wallet that was the first to use zkRollups, is a great way to acquire AAVE tokens.

How Does the Aave Protocol work?

The Aave protocol is an open-source non-custodial decentralized liquidity protocol built on the Ethereum blockchain.

By supplying liquidity in the form of any of the over 27 cryptographic assets currently supported by the Aave V2 Protocol (including ETH and BAT) suppliers can earn yield on these assets in the form of aTokens, e.g. aBAT – which can be swapped for other cryptographic assets in the Aave liquidity pool. Moreover, users who hold the native AAVE token can stake them in the safety module and receive incentives in exchange for supporting the protocol in the event of a shortfall.

Aave also has flash-loan functionality, which allows users to carry out instant one-block borrow transactions on the Ethereum blockchain which execute atomically and do not require any form of collateral as they do not execute unless they are repaid in the same transaction block. The protocol is owned and governed by the currently over 70,000 AAVE token holders and any changes to the underlying code or functionality of the Aave protocol has to be voted on by a quorum of AAVE token holders or their delegates.

Is AAVE an ERC-20 Token?

Yes. AAVE interacts with the Ethereum main chain and integrates the EIP 2612 permit function to allow for gasless transactions and one transaction approval and transfer.

How can I get AAVE?

With Numio you can send and receive your stored AAVE tokens instantly and at the touch of a button. If you want to try something a bit more advanced you can use Numio to trade and swap Aave.

Getting AAVE is easy on Numio. You can use your credit or debit card to purchase AAVE, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as a payment. Whatever way you choose you can be sure that you are always in full control of your AAVE tokens.