What is Aave up to? A news report

Aave (a lending protocol) is planning to lead the decentralized finance market by launching a liquidity mining program by tomorrow. The Aave Improvement Proposal (AIP 16) allows liquidity users (both borrowers and lenders) to use different pools, such as USDC, DAI, GUSD, ETH, and WBTC, and earn coins (stAAVE), aside from normal rewards.

These people will gain 2,200 tokens from the reserve of 2.9 million, and each of them is valued at $1 billion. This program aims to boost DeFi lending and borrowing activities across the market, according to Anjan Vinod, an investor of the company. By doing this, it will list itself among peers, like Compound.

Stani Kulechov (founder) expects that this move will provide incentives to users, and provide a competitive advantage to Aave. Although this particular program will finish its course in July, the company may again start another program related to this field.