Tap now supports Aave (AAVE)

We are delighted to announce the listing and support of Aave (AAVE) on Tap!

AAVE is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold AAVE for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting AAVE will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

Aave is one of the leading decentralized finance (DeFi) protocols on the market, allowing users to easily borrow and lend over 20 different crypto assets. Leveraging the age-old financial practice of lending and borrowing, the platform empowers users to manage their assets in a decentralized manner.

AAVE is an ERC-20 token that acts as a backstop for the Aave protocol, protecting the system from having a shortage of capital. The Aave token allows users to vote on the platform’s direction and future Aave protocol developments. Aave token holders are granted voting rights based on their holdings. The Aave system uses fees paid on the platform to buy back AAVE tokens and remove them from circulation. Approximately 80% of the fees paid are used for this burn purpose, while 20% are used to incentivize lenders.

Get to know more about Aave (AAVE) in our dedicated article here.