MEW Welcomes Aave DeFi to Dapps Page

One of the greatest advantages of decentralized finance is the lego-like compatibility of protocols and features, allowing developers to come up with customized solutions that users can further adapt to their needs. Such variety is a welcome indication of a growing ecosystem, but it can be difficult to figure out and keep track of different DeFi tools, especially if you have to use separate platforms to interact with them.

At MEW, we are working toward a future where decentralized finance is available to anyone, anywhere, regardless of technological abilities, skillsets, or demographic factors. To that end, we have set out to bring a wide selection of Dapps, DeFi, and swap options together on one MEW interface.

You can already find MakerDAO, the most popular DeFi tool for lending and interest earning, on our Dapps page. Today, we are excited to introduce a new DeFi option for our users — welcome Aave protocol!

More choices — more opportunities

While Aave will feel very intuitive for anyone familiar with other DeFi lending protocols, there are some details to note.

Aave allows users to both deposit and borrow a wide range of assets — 16 cryptocurrencies in total. Even as you borrow crypto, the deposited collateral can earn interest that will be credited to your wallet when you pay back the loan and withdraw the collateral. This is pretty much having your cake and eating it too! While you have the use of your loan, you are still earning passive income from your assets.

In addition, users have the option of selecting either a variable or a stable interest rate, and switching between them at any time. Whether you are inclined to rely on a stable rate, take advantage of market fluctuations, or do a combination of both — you have absolutely full control over your borrowing.

For more detailed instructions about using our Aave Dapp, please refer to the Knowledge Base article. We are very excited for you to give it a try!

Hopefully, the addition of Aave to MEW’s DeFi offerings will encourage you to further explore all the financial opportunities that the Ethereum blockchain has to offer! If you have any questions or comments, let us know via our official social channels or write to support@myetherwallet.com.

Wishing you Happy DeFi-ing,

TeamMEW

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