What is Aave Coin (LEND)?

Aave (LEND) (also known as ETHLend) is a decentralized lending application (Dapp) running on the Ethereum Network that offers secure, peer to peer lending Smart Contracts. ETHLend is formed based on Ethereum’s blockchain platform, helping the loan and lending process to be carried out at any time, with instant completion time. It provides a loan service faster than any financial institution in the world. With ETHLend, borrowers and lenders do not need to know each other or through a third party, which helps reduce costs incurred to a minimum.

LEND Token is the main cryptocurrency of ETHLend and offers many benefits when using them in apps such as:

  • Use it to reduce 25% of transaction fees on ETHLend
  • LEND rewards to lenders and borrowers who have been active on ETHLend based on individuals’ past trading volumes.
  • Use LEND to use the unique features of ETHLend.
  • Bonus for those who recommend ETHLend to friends and acquaintances.

Features and characteristics of ETHLend Coin

ETHLend creates a friendly environment for lenders and borrowers to meet and transact quickly and safely. Borrowing in the system is not only encapsulated in cryptocurrencies but can encroach on legal currencies and real assets. Due to the advantage of being a decentralized application in the Ethereum ecosystem, ETHLend can be linked to other applications to better support customers. Here are some typical features of ETHLend announced:

1. Decentralized borrowing

In the cryptocurrency world: you can use LEND to borrow Ether for various purposes, such as investing in ICOs, expanding mines, paying for transactions, unlocking locked Ether in ENS domain names …

In the regulatory money market: convert the value of Ether or tokens into USD currency to support real-world problems.

Real Assets in the Future: LENDs can be used to value physical assets (vehicles, energy, artwork) and lend to them.

2. Secure loans with digital assets and ENS Domain

ETHLend allows borrowers to use different ERC20 tokens in Ethereum as collateral when borrowing. For example, users with a list of tokens are not required to sell these tokens to receive liquidity. Instead, users can mortgage these tokens to get liquidity. Alternatively, the ENS domain name can be used to secure the loan, otherwise, repayment will be locked ETH in the domain name. (The ENS Domain Name here could be the borrower’s Ether wallet address)

3. Lending based on reputation

ETHLend will link with other decentralized applications (such as Bloom, uPort) of Ethereum to create a data system that allows the rating of each user’s credit score. As a result, lending will be safer and more transparent. In addition, ETHlend also records the history of transactions and thus forms its own credit rating system. These credit data can be extracted to other blockchains or applications.

4. Sharing risk with other lenders

When a lender does not trust the borrower, it is possible to turn to the form of multiple co-lenders, dividing the loan, minimizing the risk.

5. Market forecast for credit risk assessment

Predict the cryptocurrency market to help lenders make better and more secure lending decisions.

6. Reverse auction

ETHLend will hold auctions where lenders will bid on the amount they can lend.

Team

ETHLend was founded by a team of many experienced members in many fields. Notable team members include:

Stani Kulechov and Jordan Lazaro Gustave

CEO Stani Kulechov: Stani is a member of the blockchain community with a good legal background along with a passion for creating Smart Contracts for the Financial field.

COO Jordan Lazaro Gustave: Jordan contributes to a decentralized society with entrepreneurial skills, international relations management and innovation.

CMO Nolvia Serrano: Nolvia has a strong passion for blockchain technology. She is also an active member of the Latin American crypto community and works with marketing for Cornerstone Investment Group INC

Jitendra Chittoda, Principal Developer – Jitendra has over 12 years of experience in software architecture and design. Jitendra is a blockchain expert and contributor, hacker and regular speaker at various conferences and meetings.

Conclusion

ETHLend coin is considered a potential cryptocurrency, well adapted to the Ethereum platform. They attracted the attention of many investors, large and small, raising the value of this cash flow. According to estimates, this coin is also capable of developing to a higher value.

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