Be Aave - Founded by Stani Kulechov - a Finnish developer in his mid 30s, - who got frustrated in 2017 that lending and borrowing crypto on Ethereum was a mess - so he built it himself - AAVE Launched in November 2017 as ETHLend - raised $16M in an ICO - then rebranded to Aave in 2018 - One of the oldest and most battle tested DeFi platforms. - May 2021, during the crazy DeFi bull run, AAVE token hit $661.69. - Everyone was lending, borrowing, and chasing yield. - November 2020, token bottomed at $26.02 around the rebrand period Recent drama - On March 22, 2026, Resolv USR stablecoin got hacked - About $100K of real collateral was used to mint 80 million fake USR tokens - The price crashed from $1 to $0.14. - Aave wasn’t affected - Resolv had deposited real ETH into Aave, so Aave users were safe. - Stani Kulechov reassured everyone that everything under control. - It was a crazy day for stablecoins, but Aave stayed solid - showing why it’s one of the safest DeFi platforms
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