Aave Launches Savings App With Up to 9% APY: Challenging Banks’ Dominance

Decentralized finance platform Aave has launched a new savings app designed to compete with traditional banks. The app offers high-yield deposit options (up to 9% Annual Percentage Yield) and real-time interest tracking, empowering users to understand their earnings as they accrue. Key features include up to $1 million in balance protection, the ability to model potential earnings, and support for recurring deposits.