Aave is a decentralized, non-custodial liquidity market protocol and enables users to participate as depositors or borrowers. Depositors in Aave give liquidity to the market and earn a passive interest income in return.
Aave enables overcollateralized (perpetually) or undercollateralized (one-block liquidity) borrowing. The Protocol is completely open-source and audited. Users can interact with it using its user interface client, API, or directly with the smart contracts via the Ethereum network. Aave's community Discord server is a good place to get started engaging with the project.