Polygon’s DeFi Series- Aave

This series brings the views of top DeFi applications integrated on Polygon. We had time to sit down with the Aave team to learn more.

Please tell us more about your project and your team.

The Aave protocol is an open-source non-custodial decentralised liquidity protocol built on the Ethereum blockchain. It is the largest DeFi protocol in the world (by total value locked) and has a distributed team of over 70 people all over the world. The Aave protocol allows users to supply and borrow cryptoassets and earn yield on cryptoassets supplied to the protocol.

Where are we in the hype cycle for DeFi?

I don’t focus much on the hype cycle of DeFi; I prefer to focus on build cycles.. We spend all of our time building and perfecting the technology. There is a lot of innovation happening in the DeFi space which generates hype, but there are also lots of things yet to be built, and a lot of incredible talent that has yet to move from Web2 to Web3. There is always space for more innovation.

Who are some thought leaders you follow in the space?

I always love to keep up to date with Kain Warwick’s content and thought leadership. Kain always shares unique and topical opinions and is a great resource.

What are some best ways for newbies to get up to speed in the space?

I would encourage anyone new to the space to explore Crypto-Twitter, follow some of the great people on there sharing quality content and also to learn by doing — get a MetaMask wallet and start interacting with DeFi protocols to see how they work. But before ever engaging, reading and speaking to others involved in the space to understand how the technology works. There are also some great organizations doing some truly incredible work teaching the community about the world of Web3 and DeFi including Bankless by David and Ryan, SheFi by Maggie Love and Kernel by Gitcoin.

What is one thing that most people don’t know about your project?

Credit Delegation is an extremely powerful and currently under-utilised feature of Aave V2. Credit delegation allows for any supplier (who has provided crypto-assets and has the capacity to borrow on the protocol) to delegate their borrowing power to a smart-contract based DeFi strategy, a trusted ENS domain or other options. I look forward to seeing what the community builds with this feature as it can unlock a whole new market for liquidity.

What are the benefits of Polygon?

Polygon is one of the closest side-chains to Ethereum and is fully EVM-compatible with a secure Proof of Stake system. Polygon has a very vibrant developer community with a lot of fast-paced innovation and integrations, as well as an active and creative NFT ecosystem. Launching an Aave market on Polygon contributed greatly to kickstarting the DeFi ecosystem on Polygon and providing a solid source of liquidity for its users.

About Polygon

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.

If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.

Website | Twitter | Ecosystem Twitter Studios Twitter | Reddit | Discord | Telegram | Instagram

More from the Polygon Blog
Green Blockchain Summit 2.0: Agenda at a Glance 

Ethereum’s shift to Proof of Stake consensus, known as the Merge, has dramatically cut Polygon’s carbon dioxide emissions, opening the path to going beyond being carbon negative and toward empowering others to do the same. The conversation has shifted from blockchain sustainability to blockchain as a sustainability solution.  Join us for the second chapter of […]

Read More
Robinhood Selects Polygon to Launch Web3 Wallet Beta

Today, we are thrilled to announce that Robinhood has chosen Polygon as the first blockchain network to support its newly launched Web3 wallet. The Robinhood Wallet beta is now live for 10,000 iOS customers out of 1+ million who signed up for the waitlist in May. Together, Polygon and Robinhood are opening access to decentralized […]

Read More
What Is a zkEVM?

Zero-knowledge (ZK) tech is one of the most prominent and promising paths to scaling Ethereum. One popular use of ZK proofs to scale Ethereum is what’s known as a zkEVM (zero-knowledge Ethereum Virtual Machine). So what is a zkEVM, and how does it help us make Ethereum cheaper and more efficient to use? Understanding the […]

Read More
Polygon-Powered Icetea Labs Accelerator Launches With 6 Startups

Polygon has teamed up with Alpha Venture DAO and Icetea Labs to launch the inaugural Icetea Labs Accelerator Program for blockchain startups.  Working in a tight three-way partnership, Polygon is co-creating an accelerator to funnel resources, mentorship, education, and business acumen to promising Web3 companies from around the world. The startups selected for the accelerator […]

Read More
Apply to Polygon Bootcamp Africa and Kickstart Your Web3 Developer Journey

Applications are open for Polygon Bootcamp Africa, launched in partnership with Xend Finance! The eight-week intensive educational course and hackathon combo will put developers in Africa on the Web3 map.  This is Polygon’s biggest step in providing resources to developers, builders, and creators in Africa, and it comes during an important time.  An internet and […]

Read More
Starbucks Taps Polygon for Its 'Starbucks® Odyssey' Web3 Experience 

Today, we are thrilled to announce that Starbucks Coffee Company is working with Polygon to provide the blockchain technology to build its recently announced Web3 experience, Starbucks Odyssey. As a result of the partnership, this new Web3-powered experience will allow Starbucks Rewards loyalty program members and Starbucks partners (employees) in the United States to earn […]

Read More
Polygon Sponsors Moralis x Google 2022 ‘Defining DeFi’ Hackathon

Polygon has teamed up with Moralis and Google Cloud as an official Gold-Tier-Sponsor for the Moralis x Google 2022 Defining DeFi Hackathon!  From Oct. 3 to Nov. 11, hundreds of developers around the world will build the DeFi applications of their dreams, competing for prizes, bounties, and rewards from a pool of $155,000, with $50,000 […]

Read More
Polygon and OCEEF Bring Deep Sea Exploration to Web3

Entertainment can help people become more aware of and responsive to the problems we face. That's why Polygon has joined forces with the Ocean Conservation Exploration and Education Foundation (OCEEF) to advance ocean literacy by finding new and engaging ways to give people exposure to deep sea missions. The shared goal of this effort is […]

Read More
PolygonInsights - WEEK39

Hola readers! We announced Polygon Bootcamp Africa, an eight-week intensive educational course and hackathon combo, in partnership with Xend Finance, Polygon-based carbon compensation project Coorest has become the first Web3 initiative to have an officially verified carbon standard, and Quadrata, a passport network bringing the identity and compliance layer to public blockchains, is integrating its […]

Read More