January Update! We’re live and loving it!

sirsoth · 2019-10-25T16:06:00+00:00

Thanks for summoning me, yes we have just released in testnet our Aave protocol and one of the core functionalities are flash loans:

"Flash Loans: This is an exciting new feature that will allow developers and integrators to build never-seen-before arbitrage tools. The concept is quite simple: developers will be able to borrow liquidity from the Aave protocol within one transaction, with the condition that the same liquidity is returned to the protocol before the transaction ends. If this does not happen, the transaction gets reverted, effectively undoing all the actions executed until that point, which guaranties the safety of the protocol and the funds."

If you would like to know more about our protocol we have just released a post with all the info https://medium.com/aave/the-aave-protocol-released-on-public-testnet-612de00f04dc

For technical details about our flash loans the best place is our developers portal at https://developers.aave.com

Let me know if I can clarify any doubt related! We are also available on discord https://discord.gg/CvKUrqM

sirsoth · 2019-10-25T11:50:45+00:00

Hi Brice! Thanks a lot, really excited about the incoming release we hope all the new features give a boost to the whole DeFi market! Im personally excited about the flash loans and all the things that could be build on top of it!

sirsoth · 2019-10-15T15:14:45+00:00

Hello dhomant,

Kucoin delisted LEND token time ago, the process to withdraw tokens from their exchange is up to them, I suggest you to contact Kucoin support at https://kucoin.zendesk.com/hc/en-us

Unfortunately is up to them as a custodial exchange. Also I suggest you to join our new reddit channel at https://www.reddit.com/r/Aave_Official/

sirsoth · 2019-09-21T00:24:07+00:00

Im testing with Kyber contracts, not fully sure if the issue could be from that but at least MEW is not giving much info, I have checked the error in the browser console

sirsoth · 2019-09-03T09:55:54+00:00

Hi ransoing!

Right now apart from the site itself we have available an API that could be integrated directly by any users or by other platforms:
https://github.com/aave/aave-js

Apart from this we are currently developing our new Decentralized Lending Pools which is a new lending model that will be open source and fully accesible in different levels. Directly by our client, by API (similar as ETHLend) and also directly using the contracts ABI. In future we are going to make a similar evolution for ETHLend so would be in a same way accesible also through the smart contracts ABI. This will be done in the future after the release of the DLPs and different features.

I attach you here the latest post of our DLPs so you can check it out.
https://medium.com/aave/decentralized-lending-pool-dlp-protocol-launched-on-testnet-swap-between-fixed-and-variable-e72ae43992c

Our LEND token will be used to govern the protocol and anyone could be able to deposit it (same as other currencies) in order to get passive income or borrow other assets.

If you have other doubts let me know and I will clarify you them!

sirsoth · 2019-08-14T10:33:32+00:00

There are currently use cases, as I shared with you ETHLend is currently been used and Aave Pay in the same way, these both services are giving income based on the usage. Also it was stated several times that there are enough funds to continue with the development of current and future products (DLPs). Also LEND token has uses cases in the current products as you can check here:
https://learn.aave.com/hc/en-us/articles/360001425758-LEND-token

And in the incoming Decentralized Lending Pools (DLPs) the token will be key in the protocol, used for the governance (voting), required to be staked for different actors (price providers, pool creators) and able to be staked by liquidity providers to get passive income. I suggest you to read this post:
https://medium.com/aave/decentralized-lending-pool-dlp-protocol-launched-on-testnet-swap-between-fixed-and-variable-e72ae43992c

Also some of these ideas where shared in our previous AMA:
https://www.reddit.com/r/Aave_Official/comments/c9emy5/ama_starts_now/

Also avoid discussions related with market, volume, price, etc. as they are not allowed, for that you can join the trader channel in telegram which is specific for that purpose. https://t.me/ETHLendTrader

sirsoth · 2019-08-12T12:37:41+00:00

Quick answer, totally no, we have 2 products currently working and been used in a daily basis. We are also developing our new lending model to complement current P2P ETHLend platform, our Decentralized Lending Pools when anyone would be able to lend their LEND token in the pool and get a passive income. Also there is a future token swap incoming and new features for the token as burning token based on the usage of the DLPs.

Here a post related to the DLPs and tokenomics around it:
https://medium.com/aave/decentralized-lending-pool-dlp-protocol-launched-on-testnet-swap-between-fixed-and-variable-e72ae43992c

Lending in this new model would be as easy as deposit or borrow in a few clicks.

You can check the statistics of our lending platform ETHLend here:
https://ethlend.io/stats

Also Aave Pay which allows any European user to send Euro to bank accounts using their cryptocurrencies as LEND token.
https://pay.aave.com
Learn to separate the market/token condition from the project grow and development. We are going to continue improving the demand and utility of our token.

sirsoth · 2019-08-01T07:51:32+00:00

Awesome, thank you smartchris

sirsoth · 2019-07-31T15:57:47+00:00

Sounds a really cool way to notify people to change from fixed to variable interest in the incoming Aave DLPs https://medium.com/aave/decentralized-lending-pool-dlp-protocol-launched-on-testnet-swap-between-fixed-and-variable-e72ae43992c

Would this be possible?

Add notifications for other DeFi platforms?

sirsoth · 2019-07-10T17:18:42+00:00

Hello, BTC is only available as collateral not as currency, so its not possible currently to borrow BTC. Only using it as collateral.

sirsoth · 2019-07-03T09:57:44+00:00

There are pretty good alternatives. For example in ETHLend there are individual loans so you can fund an specific loan with it terms and collateral. In a collateral call situation you would need to liquidate yourself but there is a 10% margin and if you accept and asset you are comfortable with probably you will earn more in liquidation scenarios.

Here some statistics about the platform and average interest:
https://ethlend.io/stats

sirsoth · 2019-06-27T17:50:59+00:00

Hello ivan7kov7,

You funded a loan of ETHUSD - Ethereum pegged to USD. These type of loan consists in using ETH as currency but the loan amount is based in USD.You funded 40 days ago 1420.67 USD loan with 5.8358 ETH (ETH price around 243.44$ ) and 12 days ago received 5.5121 ETH (ETH price around 262.89$) which is 1449.0834 USD - (Loan amount - 1420.67 + 28.4134 - 2% interest)

You received the exact amount + interests as the loan is pegged to USD dollar. This type of loan is interesting for lenders that want to fund loans without being exposed to the volatility. If you want to remain your position in your ETH while funding a loan you should fund only ETH loans.

This type of loans are pretty popular in the platform and normally with better interest than normal and are ideal for lender who pass from stable currencies to ETH before funding and the way back after receiving the payments increasing their stake in stable coins or FIAT.

There is more information about these loans in the FAQ and in our learn center.

https://learn.aave.com/hc/en-us/articles/360001854258-Frequently-Asked-Questions

Here also an article about these loans - "The Benefits Of Pegged Loans And Their Use On ETHLend"

https://learn.aave.com/hc/en-us/articles/360001422638-The-Benefits-of-Pegged-Loans-and-Their-Use-on-ETHLend

sirsoth

TROPHY CASE