• Fantom is excited to launch Aave V2 on the Fantom Opera Blockchain

  • Fantom is an open-source Blockchain that is EVM-compatible and has quick finality and low transaction costs. Fantom believes in openness and accessibility, which they implement through a cross-chain strategy that aligns with Aave principles. The Multichain. xyz token bridge, for example, was created with the assistance of Fantom engineers, most notably Andre Cronje.

    The Foundation has established a 370 million FTM incentive program for developers in order to maintain the DeFi market’s rapid growth. Aave will be eligible for incentive prizes once it meets the minimal TVL criteria used to help develop the Fantom protocol, particularly by encouraging end-users.

    About Aave

    Aave is a completely decentralized lending platform that allows users to borrow, lend, and earn significant interest using crypto assets without the use of any intermediaries. Aave is a smart contract solution that handles these assets through a distributed network of computers running its software. It is powered by the Ethereum Blockchain. Customers who use Aave do not have to entrust their money to a specific organization or person. They must have faith that the code will function properly.

    Aave may also introduce new services, such as quick loans and other methods of issuing debt and credit that take advantage of blockchains’ unique design capabilities. Because of the interest in AAVE, traders and investors believe that decentralized lending will continue to grow in popularity.

    With $158 million in total deposits as of July 2020, the Aave system is one of the most active decentralized lending systems on Ethereum. Competitors include Compound and Maker, two other lending platforms with over $600 million in deposits. If the user makes accurate Aave predictions, using it becomes simple and beneficial.

    The Fantom Foundation

    Fantom is a cutting-edge Blockchain technology that enables users to create Non-Fungible Currencies as well as customized decentralized apps, or DAPPs. The Fantom Foundation aspires to build infrastructure for a compelling future while addressing issues encountered by previous Blockchain initiatives such as Bitcoin. Fantom’s mission is to create methods to improve the security, speed, and scalability of cryptos.

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