The members of Xriba Association are teams with strong technical and marketing capabilities, as well as management control and leadership. The Ambassador’s group is the association’s pride; they make a difference when working with banks, companies, and institutions, and grow the organization every day.
Today is the turn of Aave.
Who is Aave?
One of a number of emerging DeFi cryptocurrencies, Aave is a decentralized lending system that allows users to lend, borrow and earn interest on crypto assets, all without middlemen.
Running on the Ethereum blockchain, Aave instead is a system of smart contracts that enables these assets to be managed by a distributed network of computers running its software.
This means Aave users do not need to trust a particular institution or person to manage their funds. They need only trust that its code will execute as written.
At its core, the Aave software enables the creation of lending pools that enable users to lend or borrow 17 different cryptocurrencies including ETH, BAT and MANA.
Like other decentralized lending systems on Ethereum, Aave borrowers must post collateral before they can borrow. Further, they can only borrow up to the value of the collateral they post.
Borrowers receive funds in the form of a special token known as an aToken, which is pegged to the value of another asset. This token is then encoded so lenders receive interest on deposits
A borrower may post collateral in DAI, for example, and borrow in ETH. This allows a borrower to gain exposure to different cryptocurrencies without owning them outright.
Aave can also introduce additional features, such as instant loans, and other forms of issuing debt and credit that take advantage of the unique design properties of blockchains.
Who is a Xriba Ambassador?
Ambassador members are companies that identify themselves with the vision of the association and have decided to join the association by providing their expertise and commitment to help the association grow the Xriba ecosystem by contributing to its governance.
As members of the Association, they participate in all crucial votes through the General Meeting, a body formed by all members, actively participating in the life of the Association.