The goal of the app is to simplify the use of the Aave platform.
For now, it is only available for iOS phones.
Aave Labs announced this week the opening of the waiting list for its new mobile application (app) to manage savings in stable cryptocurrencies (or stablecoins).
The platform searches integrate Aave protocol infrastructure with a simplified interfaceallowing users to access returns typical of the decentralized finance (DeFi) sector without greater technical complexity.
This new application offers a base annual yield (APY) of 6%, with the possibility of going up to 9% through usage incentives.
The system supports deposits from bank accounts or directly into stablecoinscapitalizing the interest second by second. Stani Kulechov, CEO of Aave Labs, stated in a statement sent to CriptoNoticias that the initiative aims to offer a competitive and transparent alternative to traditional banking products.
This launch comes at a time when the demand for savings instruments with immediate liquidity, and returns above inflation, continues to drive the adoption of digital currencies and especially stablecoins such as USDT and USDC.