Aave v.2.0 has been released! See the most up to date version 2 docs here:

What is Aave?

Aave is a decentralised non-custodial liquidity protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an over-collateralised (perpetually) or under-collateralised (one-block liquidity) fashion.

The following documentation describes the fundamentals of the protocol and how to interact with it. Please join the #development room in the Aave community Discord server; our team and members of the community look forward to helping you build on top of Aave.

Basic overview

The protocol is implemented as a set of smart contracts on top of the Ethereum blockchain. Smart contracts guarantee safety and do not require a middleman.

Users and applications can interact directly with the smart contracts, the blockchain data, or via their favourite web3 providers.

Aave Protocol is developed with security as a priority, having been audited by multiple auditors.

For a deeper dive into the protocol, economics, and how it works, refer to the White Paper.