Stani Kulechov, Founder and CEO of Aave and ETHLend

Kulechov worked as a lawyer until late 2017 before earning a master’s in law from the University of Helsinki in 2018. While attending the University of Helsinki, he served on the Pykälä Ry law students’ association’s Legal Aid Committee. Later, he was inspired by Ethereum and the idea of smart contracts to create a decentralized financial ecosystem and enhance the effectiveness of financial products.

Kulechov founded ETHLend, one of the first decentralized platforms, as a peer-to-peer lending and borrowing network for digital assets, in 2017. In 2018, it changed its name to Aave and its emphasis shifted from lending to Ethereum. The Aave protocol was formally launched on the Ethereum mainnet in January 2020.

2023

The $AAVE, which was already in danger of falling below $50, took a hit from the unwanted collapse of FTX. The 2023 surge, fortunately for the bulls, prevented $AAVE from falling under the $40s, and it rose above $90 in February. A $100 $AAVE was anticipated, according to a number of Aave price prediction experts, but bulls lost that hope as soon as mood became negative once more. Aave dropped below $52 in June, and until today’s mini-rally, there was a chance for another retest of $50.

Coincodex predicts that $AAVE will conclude the year a few percentage points higher than its current value, reaching $57 in the coming month. Their target is only $52, but their highest price forecast for 2024 is $400, which would suggest enormous profits. Though they don’t anticipate a new all-time high, the Coincodex Aave price prediction is optimistic that the token will trade above $200 by the end of the decade. According to AMBcrypto’s projection, $AAVE is expected to surpass $77 before the year ends and may even reach triple digits in 2024. While a new all-time high in $AAVE is not anticipated, they do have a $208 aim for 2030.

2022

According to Aave, a mobile wallet will be available in 2022. One part of a bigger strategy to see lending protocols expanded to SushiSwap and Curve Finance is the development of mobile wallets. In fact, broadening Aave’s protocol could boost on-chain activity while also boosting the number of users who use it. The low-hanging fruit assumption is that Aave will begin with Uniswap v3 liquidity-pool NFTs as collateral because of Uniswap’s dominance in DeFi. Aave’s 2022 plan also calls for gas-free voting and more inclusive administration.

Although DeFi remains Aave’s primary focus, Kulechov believes that there is a lot of room for comparable concepts in other fields. Although DeFi protocols were successful in the financial sector, Kulechov saw the potential for a social network to be built using a similar architecture. As a result, Aave will probably develop an Ethereum-based Twitter substitute to provide users more control over their content.

Latest news about Stani Kulechov

• Justin Sun, former CEO of TRON, withdrew 52.5 million stablecoins from Aave, a leading decentralized finance protocol. The withdrawal, which included 40.7 million USDT and 11.7 million USDC, has caused significant liquidity issues and sparked speculation. Sun’s withdrawal could be a strategic decision, reallocation of portfolio, or perceived risk. The platform’s long-term success depends on maintaining user trust, offering competitive rates, and innovation. The event serves as a reminder of the influence of high-net-worth individuals in the DeFi landscape.
• Crypto analysts predict DeFi to boom in 2023, with DeFi tokens expected to experience significant gains. Uniswap (UNI), Aave (AAVE), and Uwerx (WERX) are considered the best DeFi tokens, with Uniswap being the king of decentralized exchanges, Aave being a decentralized lending protocol, and Uwerx being the world’s first decentralized platform for the gig economy. These tokens are expected to gain significant value, with Uniswap potentially reaching $87-$90 in 2024.

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