Use your Bitcoin w/o selling your position
With our integration of Aave in Edge, users can take out a loan in minutes with no risk of centralized mismangement of funds and no need to use multiple different apps and interfaces. Everything from taking out a loan to selling funds to a bank account is done simply, inside of ONE app.
This product is currently in beta and being actively tested by users.
Sign up to be notified once publicly available.
Formerly known as ETHLend, Aave is an open source lending and borrowing protocol built on a system of smart contracts — a piece of code designed to automatically execute an agreement when certain predetermined conditions are met. This way, users don’t have to trust a specific institution or individual for managing their funds.
Taking out a loan today using the native Aave interface is intimidating and error prone. In total, it takes seven steps to do so, with long time delays in between each step, and the involvement of four separate applications. With Edge’s native Aave integration, a bitcoin backed loan can be taken out in as little as three taps, in one sitting, using one single app: Edge.
With centralized finance (CeFi), your money is held by banks and similar financial institutions. The financial system is full of third parties who facilitate money movement between parties. Banks are in control over the approval or disapproval of financial transactions.
Decentralized finance (DeFi) eliminates intermediaries by allowing people, merchants, and businesses to conduct financial transactions via peer-to-peer financial networks and smart contracts.
With an internet connection, anyone, regardless of who or where they are, can lend, trade, and borrow using software that records and verifies financial actions in distributed financial databases, disintermediating centralized financial institutions.
We will be sending out an email with beta access instructions in early September.
To learn more about our integration of Aave in Edge head over to our latest blog post.