World’s first tweet, Aave, and Kanye West!
An introduction to Aave.
First, an announcement:
This weekend, on 5th June, 10 AM CST/ 8:30 PM IST we are hosting @thedefiprincess on our Twitter Spaces. She is a renowned DeFi educator and with a humble following of ~10k, provides regular free on-chain analysis to her audiences.
We will dig deeper into the different DeFi analyses done by her & share the wisdom in a succinct manner during the live event.
Tweet us your questions related to DeFi to @brew_defi and we'll make sure to ask her!
Don’t forget to turn on the reminders! 🪄👇
Now, to business -
101 today:
A topic we explain —
Introduction to Aave.
Major events of the ecosystem —
World’s first tweet loses value, strange Goblintown, and Kanye’s NFT.
A Goldmine of a Twitter thread that sums it all up —
About yields - what’s the source?
But wait - where’s your money coming from?
Earn up to 10% APY on blue-chip DeFi protocols with Brew Money.
Join the waitlist now.
Questions? DM us.
Today’s Topic:
Bite-sized introduction to Aave
With Aave V3 up and running, more & more DeFi users are getting ready to earn yield on Aave. But what exactly is Aave & how does it work?
Aave is a decentralized lending, borrowing, and automated money-market maker protocol. (What are AMMs?) The project’s token is called $AAVE.
Anyone who deposits their tokens into the Aave pool and hence provides liquidity is called a lender. Lenders do it to let others borrow the fund and earn APY rewards. They receive new aTokens for doing so.
In layman's terms, people borrow so that they can obtain liquidity without selling their assets. To do so, they must deposit crypto on the platform in order to borrow against it, and the amount borrowed can't exceed the dollar value of the collateral. If the value of the collateral drops below the value of the loan, the collateral could get liquidated and the borrower loses the assets deposited into the protocol.
A more detailed blog on how exactly this lending & borrowing on Aave works.
Some NFT-focused news for today:
👀One word: What?
Anonymous founders of Goblintown pretend to be goblins and talk and write in some sort of a goblin language. Read more here.
👀Also, Kanye West.
Once resistant Kanye West Files for NFT Trademark Applications - Read up here.
👀And, about the world's first tweet.
The Jack Dorsey tweet owned by @sinaEstavi lost its value. Read up here.
Today’s Special:
In this edition - we’ve found a not-so-hidden gem for our readers. 💎
Let’s be honest, markets make a lot of noise. And the web3 market is no less. Scrolling away on #cryptotwitter will make sure you know that. And so, we have brought you a source that separates insights from the noise.
Investrly is a newsletter publication on substack that empowers its readers to invest early in Web3 and learn & earn through their newsletter & podcast. Investrly is sharing the web3 future with individuals and shaping it with web3 brands.
Their recent edition shares wise words on opportunities available in the crypto bear market.
Disclaimer: Content shared is for educational purposes only. Nothing should be taken as financial advice.
DeFi Fridays & investrly have decided on a reciprocal agreement to mention each other in their newsletters.
More from Brew:
🪄A summarised version of a 56 pages long ‘2022 State of Crypto Report’ released by a16z:
🪄A few thought experiments by Vitalik Buterin:
🪄The Eth Merge Timeline:
That’s it for today, folks. 💃
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See ya next Friday. 🧢
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