Hands down one of the coolest digital asset apps out there, Aave brings the power of Decentralized Finance or “DeFi” to life for Rocket Dollar clients. Aave is an open-source and non-custodial money market protocol to earn interest on deposits & borrow assets.
Users can participate as depositors (provide liquidity to earn passive income), earning tax-advantaged crypto income for their Rocket Dollar retirement account, all while maintaining control over the assets. I have been using the app for my Roth IRA throughout 2020, and couldn’t be more pleased with the results and experience.
I got Aave’s Founder & CEO Stani Kulechov’s thoughts on how our two offerings can work together for investors:
“Rocket Dollar brings mainstream savers access to markets that have been previously seen as novel. With the integration of Aave, Rocket Dollar ensures that each dollar in DeFi is working around the clock as Rocket Dollar retirement account users are able to deposit into Aave Protocol and earn interest.”
Aave (fun fact: the name is taken from the Finnish word for “ghost”) is a decentralized, open-source, and non-custodial money market on Ethereum. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain loans by tapping into these pools with variable and stable interest rate options. Aave Protocol is unique in that it tokenizes deposits as aTokens, which accrue interest in real-time. It also features access to Flash Loans, the first uncollateralized loan option in DeFi. With 17 different assets, 6 of which are stable coins, Aave Protocol is the most diverse lending pool in the Ethereum ecosystem.
For those interested in digital assets, you know that holding your own keys and coins is paramount. This DeFi solution can help you earn yield while maintaining a tremendous amount of control. To me, this is the perfect product for a retirement vehicle—earn a passive yield, while holding assets in a fairly conservative structure.
It checks all the boxes, which is why I want to share more with our Rocket Dollar audience on how the process works and how you can engage with the Aave platform.
This is our “Zero to Hero” Guide which walks you through how to use Aave. It even talks you through some options for converting fiat to crypto which might be useful. - Visit Aave!