Aside from UNI, another long-term DeFi blue-chip protocol is AAVE. Currently, among all DeFi protocols, there are 4 with a TVL exceeding $10 billion, and @AAVE ranks first with $30.9 billion. As a lending platform, AAVE's core business model is taking a cut from the interest paid by borrowers (Reserve Factor), along with flash loan fees. Today, AAVE launched a dedicated app for its product. The app's positioning is simple: directly competing with traditional banks for savings business. In addition to stablecoins, users can deposit fiat currency into AAVE through 12,000 banks and earn an annual interest rate of 6% (the promotional image on the App Store says 9%). Compared to less than 1% interest offered by commercial banks, AAVE's DeFi-based savings are undoubtedly more attractive, especially against the backdrop of the U.S. now entering a rate-cutting cycle. This app doesn’t support Web3 wallet login but instead uses email/phone number registration, clearly targeting non-crypto users. It’s currently in beta testing and requires an invitation code. You can register via the link https://(aave.com)/r/E2C65A or download the app and enter my invitation code E2C65A (much appreciated).