In September 2018, ETHLend was renamed Aave, "Aave" is a Finnish word that means "ghost". "Ghost" represents Aave's commitment to creating a transparent, open infrastructure for decentralized finance. Headquartered in London, England, Aave is composed of 18 innovative and creative industry leaders.

1. Project introduction (ETHLend & Aave)

ETHLend

ETHLend is a decentralized p2p lending platform that allows people around the world to obtain loans or become lenders. As a decentralized platform, using blockchain technology, we can allow you to obtain loans or financing in a secure way within minutes.
Since its first release, many features have been added, such as Bitcoin as collateral, crowdfunding, partial collateral calls, new currencies such as stable coins, over 150+ ERC20 collateral and more.

Aave Payment

Aave Pay is a service that allows European users to pay in Fiat (currently euros) using their favorite cryptocurrencies (LEND, DAI, BTC, ETH, ADA, LTC, BCH, XLM, XRP, USDT, KCS and BNB). With this service, users can get a loan at ETHLend and then send it directly to their bank account, or cash out their password directly without going through a complicated process, just sending a transaction.

Distributed Loan Pool

Aave decentralized lending pool is a complement to the ETHLend P2P lending model and is a new and improved lending model. Under this new loan model, users will be able to become lenders and borrowers, simply depositing assets into the pool and obtaining passive income from the assets they hold, and also borrowing them as collateral.

Compared with similar lending models, our DLPs will have new features and improvements that can be exchanged between fixed and variable interest rates at any time as borrowers, and provide an open source agreement that allows anyone to build on DLPs and use the services through our clients, directly using the smart contracted ABI API.

2. LEND Token

Tokens are currently in use in our products and have different advantages.
In the decentralized lending pool we introduced, the token will have core/critical features and utility. The token will be required to participate in DLPs in a different role, which will allow the user to deposit the token into the pool to obtain passive income as a lender, it will be burned off based on the fees charged in the agreement and will be used by the token holder to vote on the decisions to be made in the agreement, such as adding new features. The token will be swapped to adapt it to new products and add new features.

Related links:

https://bitcointalk.org/index.php?topic=2090735.0