Because Open Finance opens many opportunities for many people, we’re excited about helping you keep an eye on your crypto activity across many popular decentralized finance services. After integrating Compound, Uniswap and TokenSets, we’re happy to release support for Aave today!
Aave has launched just two weeks ago, and has already attracted over $4m of capital. Just like other lending services, Aave allows to borrow crypto, or lend crypto and earn interest on it. Unlike most other services, Aave also offers to borrow crypto at stable interest rates (in addition to the variable rates that are standard in DeFi). Arbitrageurs and other tech-savvy actors can also make use of zero-collateral “flash loans”, where capital is borrowed and repaid within the same transaction.
Much like Unspent does for Compound, Unspent automatically synchronizes all of your Aave activity from the Ethereum addresses you’ve added on Unspent, and displays all of the relevant information in a simple dashboard: the total value of assets you’re lending or borrowing, total interest accrued from lending or borrowing…
Unspent also displays the health of your Aave account, which is the ratio between collateral value and borrowed value. It’s an important metric to keep an eye on if you’re borrowing assets: to avoid liquidation, an account’s health must remain above 100%.
This is why Unspent also allows you to monitor the health of your Aave account: when health monitoring is enabled, Unspent will send you an email alert if the health of any of your Aave accounts goes below 150%, and then another email if it reaches 100%.
You can enable Aave health monitoring for all of your Ethereum addresses by clicking on the button at the top of the Aave dashboard.
Aave is an exciting new service in the Open Finance landscape, and we’re excited to have it on Unspent! Expect more from us soon, as we keep working on making Unspent the best place for you to keep track of all of your crypto activity: investing, trading, lending, borrowing…
Head to https://unspent.io/defi to see your own Aave activity!
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