Through the improvement proposal (AIP1), Aave will convert the Aave platform token LEND to AAVE at a ratio of 100:1 on October 3, 2020 (block height 10978863).
Aave is an open source decentralized lending protocol that provides users with deposit and lending services. The deposit interest rate and loan interest rate of both borrowers and lenders are calculated through algorithms based on the platform's borrowing volume and deposit volume, and the platform uses Chainlink's oracles to ensure the fairness of the collateral price.
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