So, what is Aave Protocol?
"Aave is a decentralised non-custodial liquidity market 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 overcollateralised (perpetually) or undercollateralised (one-block liquidity) fashion.
AAVE is used as the centre of gravity of Aave Protocol governance. AAVE is used to vote and decide on the outcome of Aave Improvement Proposals (AIPs). Apart from this, AAVE can be staked within the protocol Safety Module to provide security/insurance to the protocol/depositors. Stakers earn staking rewards and fees from the protocol."
How to buy or sell AAVE on CoinMetro
How to receive/deposit AAVE
For all in-depth information on how to deposit AAVE into your CoinMetro account, please click here.
If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts, or use a full ETH wallet as an intermediary.
Note: As CoinMetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000 for ETH. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk for loss of assets caused by a too low gas limit.
How to send/withdraw AAVE
For all in-depth information on how to withdraw AAVE from your CoinMetro account, please click here.
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be verified via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be cancelled and withdrawal status can be found by selecting the wallet on the GO! Dashboard. Approved withdrawals cannot be cancelled. If there is no Cancel button, there should be a transaction ID (TXID). This is a link to the relevant tx hash (Transaction Hash) on a blockchain explorer website.
We hope this article has given you all the information you need on buying, selling, depositing and withdrawing AAVE.
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