Aave is a large, decentralized liquidity provider by market capitalization and total value locked. It is an open-source, non-custodial protocol that uses liquidity pools to facilitate lending and borrowing of crypto assets. Users can earn interest with deposits or take out loans by using those deposits as collateral. It pioneered flash loans and has integrated across many smart contract networks including Ethereum, Polygon, Fantom, and Avalanche. Its native cryptocurrency, AAVE, is a governance token that allows holders to participate in decision making.