Aave MANA v1, symbolised as AMANA, is an interest-bearing token that is minted upon deposit and burned upon redemption. It is pegged 1:1 to the value of the underlying MANA, which is the native token of Decentraland. AMANA serves as a tokenised representation of MANA deposits on the Aave platform, allowing users to earn interest on their MANA holdings.
Aave MANA v1 operates on the Ethereum blockchain, leveraging its secure and decentralised architecture for transaction and smart contract execution. When users deposit MANA into the Aave protocol, they receive AMANA tokens in return. These tokens are interest-bearing, meaning they accrue interest over time. The process involves smart contracts to manage lending and borrowing, where interest rates are calculated based on the amount of borrowed funds and the liquidity of the asset pool. AMANA tokens maintain a 1:1 peg with MANA, supporting real-time interest accrual.
Aave MANA v1 has diverse applications within the Decentralized Finance (DeFi) sector and beyond:
The Aave project originated in 2017 as ETHLend, founded by Stani Kulechov. Initially a peer-to-peer lending platform, it rebranded to Aave in 2018, adopting a peer-to-contract model that enhanced its DeFi capabilities. Key milestones include reaching $1 billion in Total Value Locked (TVL) in 2020 and launching Aave V2 and V3 with new features like rate switching and integrated liquidity markets. Aave has grown to become a leading DeFi platform with a strong presence in decentralized lending, including its innovative token system like Aave MANA v1.
The Aave Interest bearing MANA price is $0.76953518 AUD, representing a -12.58% from the day prior.
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The trading volume of Aave Interest bearing MANA (AMANAV1) is $0 AUD in the last 24hrs, representing a -12.58% from the day prior.
Aave Interest bearing MANA (AMANAV1) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
The current market cap of Aave Interest bearing MANA (AMANAV1) is $0 AUD.
Yes - With Coinstash you can convert your Aave Interest bearing MANA (AMANAV1) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
The current circulating supply of Aave Interest bearing MANA (AMANAV1) is 0.
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