Aave V2 is the second version of Aave, a popular decentralized finance (DeFi) platform. Aave is a DeFi platform running on the Ethereum blockchain and provides a marketplace where users can lend and borrow cryptocurrencies. Aave V2 comes with more innovations and improvements than its previous version.

Firstly, Aave V2 offers an improved version of liquidity pools. Users can now combine multiple asset types in one pool, providing a high level of liquidity across the entire pool. This allows users to access many different assets without having to search through individual repositories.

Aave V2 also offers a feature called "Flash Loan". This feature provides users with instant liquidity and can be used for short-term borrowings. The Flash Loan feature makes it possible to process credit transactions at a speed not possible in traditional financial systems.

Aave V2 makes it possible to provide liquidity using funds from other DeFi platforms as well as liquidity pools. This allows users to transfer funds available on other DeFi platforms to Aave and include them in their liquidity pools. This feature helps Aave V2 gain access to more liquidity and reach a wider user base.

Finally, Aave V2 offers a feature where users can choose the way they pay their debts. Users can choose the type of assets paid for and repay their debts using these assets. This feature gives users more flexibility and options.

Another important feature of Aave V2 is that unlike its previous versions, Aave V2 can run on multiple blockchains including Polygon and Ethereum. This helps Aave reach a wider user base.

As a result, Aave V2 offers more innovations and improvements than its predecessors and offers more flexibility and options for users. These features help Aave V2 reach a wider user base and maintain its position as a leading platform in DeFi.

The questions in this research were: How many unique borrowers of SNX, UNI, & MKR are there on Aave V2? What is total cumulative borrowing for each asset on Aave V2? Can you visualize borrowing of each asset over time? In this dashboard, we first examined the borrowing data of these 3 assets. In addition, we made a few comments about the top 6 assets on Aave V2. Apart from that, I talked about some of the issues in Aave V2, and I didn't mention some of them. While there are variable and stable rate among the ones I mentioned, there is the flashloan issue among the ones I didn't mention.

I mainly used two tables to collect data, ethereum.aave.ez_borrows and ethereum.aave.ez_market_stats. And to get what I want, I got 'SNX', 'MKR', and 'UNI' data using symbol filter. Also, since our analysis will be in Aave V2, I did not neglect to use the filter aave_version = 'Aave V2'.

Borrowing:

In the cryptocurrency world, "borrowing" is the process of borrowing a cryptocurrency asset. This process allows users to borrow cryptocurrencies for a fee from places such as cryptocurrency exchanges or cryptocurrency lending platforms.

This borrowing is often used for leveraged transactions. Users can open a larger position by using their borrowed cryptocurrency in leveraged transactions. In this way, they can benefit more from price movements in the cryptocurrency market. However, this transaction involves high risk and it is recommended to be done with caution as users need to accurately predict market movements.

Another use case is for cryptocurrency holders to lend their cryptocurrency holdings for a certain period of time. In this case, the cryptocurrency holder can get back the assets he lent in exchange for a certain interest rate. This method can provide cryptocurrency holders with an additional source of income.

SNX (Synthetix):

SNX is an ERC-20 token used in the Synthetix protocol. Synthetix is ​​a decentralized finance (DeFi) platform that allows users to create synthetic versions of cryptocurrencies, stocks, commodities and other assets. The SNX token is used for minting, trading and managing tokens on the Synthetix network.

UNI (Uniswap):

UNI is an ERC-20 token used in the Uniswap DeFi protocol. Uniswap is an automated market maker where Ethereum-based assets can be exchanged in a decentralized manner. The UNI token is used for management decisions in the Uniswap protocol and is also distributed to provide incentives to users.

MKR (MakerDAO):

MKR is an ERC-20 token used in the MakerDAO DeFi protocol. MakerDAO allows creation and management of DAI, a stable cryptocurrency based on Ethereum. The MKR token is used for management decisions in the MakerDAO protocol and also acts as the “security mechanism” of MakerDAO, a system used to ensure price stability of DAI.