Aave is an Ethereum-based decentralized lending and borrowing platform. Aave users can obtain loans by pledging crypto assets as collateral. Lenders who provide collateral to Aave are rewarded with aTokens, which automatically pay interest to the holder using platform trading fees. Aave invented “flash loans,” which allow for the uncollateralized lending of funds as long as the principal is repaid within the same Ethereum transaction block.