Aavegotchi, the defi powered crypto collectibles is the hot talk in the Aave community.
The LAOOfficial: “The LAO community is proud to support @aavegotchi Aavegotchi combines are two favorite things: NFTs and DeFi. Aavegotchis are NFTs staked with interest-generating aTokens via @aaveaave. In other words, Aavegotchis are DeFi-powered NFTs!
Aavegotchis are crypto-collectibles which live on the Ethereum blockchain. It is backed by the ERC721 standard, which is used in popular blockchain games like Cryptokitties, Axie Infinity, and Cryptovoxels. Aavegotchis have three attributes which determine their overall value and rarity within the Aavegotchi universe based on collateral stake, traits, and wearable. Examples of popular aTokens are aDAI, aUSDT, aLINK, aLEND, and aSNX.
Rarity value consists of calculating the rareness of the Aavegotchi’s triats and these are equipped wearables for use in the Aavegotchi Universe. Rarity is not a fixed value in Aavegotchi, the rarity will change with time as the Aavegotchis level up and equip different wearables.
Ryan Sean Adams, crypto investors tweeted: “Aave started the year with $30k in locked assets. Now, they are they’re $1.4b. Is this an overnight success or is it a success attributable to a team of crypto natives who have never stopped building.”
Aave to billions Episode #29 which is featuring Stani Kulechov is worth listening.
Sydney Ifergan, the crypto expert tweeted, “I see that Aave are not only building fast, but they are also doing what it takes to be sustainable and rare at the same time.”
Aave Good Features
Atic retweeted on how Matic recently had the pleasure of hosting @daveytea, Software Engineer at @AaveAave, for a Master class discussing the DeFi revolution in a session entitled ‘DeFi on Ethereum’. David shared some excellent insights into Aave and their place in the DeFi movement. Recap below.
The discussion was about the evolution of DeFi lending and on how Aave began in 2017 as P2P lending platform ETHLend. Since P2P marketplaces suffered from a liquidity problem, the lenders and borrowers had to be matched, and therefore, Aave changed their model from P2P lending to Money Market Lending, and therefore incorporating asset pools.
The good features from Aave are “Earning: Deposit funds for lending to earn interest. Borrowing: Borrow from 19 assets at a stable or variable interest rate. Credit Delegation: Earn extra interest by managing your own loans. Flash Loans: Uncollateralized loans within 1 transaction.”
Aave & DeFi Aave launched on Ethereum mainnet in January 2020 with $0 locked and have now grown to a protocol market size of 1.5bn.
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