Aave AAVE

Aave was originally launched as ETHLend, a lending platform that was founded in 2017 and then rebranded to Aave in September 2018. The name itself is Finnish and translates to “ghost” in English. And the ghost represents Aave’s focus of creating a transparent and open infrastructure for decentralized finance.

How to stake Aave?

To stake you can head over to the Aave app's Staking section. Over the staking section select 'stake', input the amount to stake and click on 'stake'. Then proceed to send 2 transactions to stake your AAVE: 

1. Approve: This is a required transaction prior to the staking that allows the staking contract to move your AAVE tokens. This transaction won't be required if you perform additional staking actions unless you revoke the approval. 
2. Stake AAVE: This transaction performs the action to stake AAVE tokens. When confirmed, your tokens will be staked in the Safety Module.

Here you can watch step by step Aave staking tutorial:

How do I stop staking?

If you want to stop staking, head over to the Aave app in the Staking section. Over the staking section select 'Unstake', input the amount and click on 'unstake'. - If you did not activate the cooldown period, you will need to activate it. This consists of 1 transaction to activate the cooldown. When the cooldown period finishes, you will be able to unstake by following the next step. - Unstake AAVE: This transaction performs the action to unstake AAVE tokens. When confirmed, your AAVE tokens will be back in your wallet. *After the cooldown period passes there is a 2 day window to unstake! If you do not unstake during that period you will need to activate the cooldown again. 

What is the cooldown period?

The cooldown period is the time required prior to unstaking your tokens. You must start the cooldown period before you can unstake your tokens. You can start the cooldown period by going to the staking section, select 'unstake' and click on 'activate cooldown'. It will require one transaction to be sent. The cooldown period by default is 10 days, but this can be further extended by the governance.

IMPORTANT: After the cooldown period is complete, you have a 2 day window where you can unstake. If you do not unstake during that period, you will have to start the cooldown process over again.

Example:

If the cooldown period was activated 10 days and 4 hours ago, you can unstake!

If the cooldown period was activated 12 days and 2 hours ago, you can not unstake, and you will need to start the 10 day cooldown period again.

Can I add stkAAVE or stake more AAVE while in cooldown period?

You can stake more AAVE tokens in the Safety Module or receive stkAAVE, but that would increase your cooldown period based on the amount received. Even if the amount received is big enough, it will reset your cooldown period requiring you to activate it again before you can unstake.

How do I claim my rewards?

You can claim your rewards at any time over the staking section clicking on "Claim". The AAVE tokens from the reward will be in your connected wallet as soon as the transaction is confirmed.