Cryptocurrencies are unregulated in the UK. Cryptocurrency profits may be subject to Capital Gains Tax. The value of investments is variable and can go down as well as up.
Aave is a decentralised lending platform built on the Ethereum network.
Originally started as a peer-to-peer lending network, these days Aave (Finnish for ‘ghost’) operates through token lending pools with free-floating interest rates a la Compound. The less funds available to borrow, the higher the interest rates and vice versa.
The Aave protocol lets borrowers pick between fixed and variable interest rates. It also permits what’s known as ‘flash loans’ – basically, very, very short-term loans that are resolved within a single Ethereum block.
The AAVE token lets holders vote on changes to both the Aave protocol and borrowing/lending incentives, and can be staked as ‘collateral of last resort’ in order to earn more AAVE.
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Cryptoassets carry high risk. Due to the potential volatility of the cryptoasset markets, the value of your investments may fall significantly and lead to total loss. Cryptoassets are complex and are unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.
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