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• What is AAVE ?

Aave is a cryptocurrency platform that gives users and participants the ability to borrow and lend crypto without a middleman. In effect, it’s a sort of lending system in the crypto space that let’s users lend and borrow, and earn interest as a result. The platform also has its own crypto tokens, and is a sort of Web3 version of more typical financial lending and flash loan systems. If you’re interested in the ability to lend out your crypto holdings and potentially beef up your returns for doing so, understanding what Aave is and how it works may be of use.source

• How Does Aave Work?

Aave’s DeFi protocol allows users to provide loans using a system that is, in many ways, the inverse of how a bank would issue a loan. First, there is no financial institution, and no intermediary that oversees or grants loan requests based on creditworthiness. Instead, Aave is a “trustless” network that utilizes smart contracts to execute the loans, removing the need for middlemen.Where a bank would grant a loan in dollars (or another fiat currency), Aave lends cryptocurrency.There are no widely accepted credit checks or scores in the DeFi space, thus, users must post collateral in order to get a loan on Aave.source

• What is gas fee?

A gas fee refers to the fee required to conduct transactions or execute contracts on the Etherum network. It is compensating for the computing power used to process these interactions.Called gwei, These fees are small fractions of Ether (ETH). These gas fees are used to reward miners for their computing power used in transactions verification. If the gas paid for a transaction is too low, miners can ignore the transaction.Gas fees depend on the supply and demand for processing power on the network. For example, if the network has a lot of transactions, the demand for processing power will be high and will trigger an increase in gas fees.source