In Aave we believe that community driven development is the key for growth and improvement. We have been overwhelmed by the constructive feedbacks and positive comments regarding our latest Baiji release, which was a significant step forward, compared to the previous “Kogia” version.

As always, there is margin of improvement, so we collected the most interesting suggestions we got from our users and implemented them! The list is quite long, but it’s worth to check it out — many new interesting features make the user experience better than ever.

Fees

Fees have been completely removed for lenders. 🙌 Lenders can now enjoy fees-free earnings. Fee reduction for lenders is active for all the on going loans. But we have some love for borrowers too: the loan origination fee has in fact been lowered from 2% to 0.75% and to 0.25% if LEND is used as collateral. If LEND is used as loan currency, no fees are applied for both lenders and borrowers. Fee reduction for borrowers is active for all the loans opened in the last 30 days.

Premium/featured loans

You can now obtain a permanent premium status by stacking 500.000 LEND in your wallet . As long as your LEND balance is higher than 500.000, your account will be in premium mode.

. As long as your LEND balance is higher than 500.000, your account will be in premium mode. A stacking functionality has also been added for featured loans: If a loan has at least 1.000.000 LEND as collateral, or 500.000 LEND as loan currency, the loan is automatically featured. Also if an user has at least 1.000.000 LEND token in the wallet, he will automatically become premium user and all his loans (either with LEND or not) will be featured permanently.

Dashboard

Collateral withdrawal : borrowers will be able to withdraw the equivalent of the amount repaid in collateral, only if their repayments are all correct (there are no late installments) and if the Loan to value is below 50%. Being a core smart contract level functionality, the feature will be enabled for new loans only. BTC collateral withdrawal will also come with a subsequent update.

: borrowers will be able to withdraw the equivalent of the amount repaid in collateral, only if their repayments are all correct (there are no late installments) and if the Loan to value is below 50%. Being a core smart contract level functionality, the feature will be enabled for new loans only. BTC collateral withdrawal will also come with a subsequent update. Loan editing: loan requests in creation/waiting for borrower will be editable (users will be able to change MPR/duration of the loan)

Pay the whole loan in one transaction : Users will now be able to repay the whole loan (or the remaining part, if already partially repaid) in one single transaction, instead of needing to execute multiple transactions at once. Being a core smart contract functionality, this feature will be available for new loans only.

: Users will now be able to repay the whole loan (or the remaining part, if already partially repaid) in one single transaction, instead of needing to execute multiple transactions at once. Being a core smart contract functionality, this feature will be available for new loans only. Loans are now ordered by state , then by creation date

, then by Creation date added to the loan details

added to the loan details In the funding view, in case of crowdlending loans, the actual amount funded by the lender has been added.

Loan Request

Information displayed in the MPR area of the loan creation was improved, highlighting the way monthly interest is calculated, including the APR and the total premium.

A new Loan Offer Matching Engine 💪 was added: when a new loan request is created, if there is already a loan offer matching this loan request, the borrower is presented with the option of immediately taking the offer instead of creating a new request.

Improved the funding view, better highlighting the earnings for lenders. In case of pegged loans, the reference ETH price and the actual amount of ETH needed to fund is shown.

Improved Loan request cards: the monthly interest has been removed to better highlight the total earnings for the lenders (total premium in percentage that the borrower will earn).

Wallet

External wallets are now supported. There are some limitations in using external wallets though: Bitcoin lending without the inapp wallet will not be supported, as the BTC interoperability requires the inapp wallet to function properly. Given the underlying infrastructure of the current platform also, multiple ETH accounts (like in metamask) are not supported. You will need to register one specific account and always use that one to interact with the dapp. Only external wallets that expose their interoperability in a way that is compatible with metamask will work. Other external wallets, especially some exotic mobile dapp browsers will be supported in future releases. In those dapp browser is still recommended to use the inapp wallet. To switch from the inapp wallet to an external wallet, users can reset their wallet choice from the profile view, by clicking on “reset wallet”. Please be absolutely sure you have a backup of the inapp wallet seed phrase before performing this action: If you didn’t store the seed phrase, you will never be able to recover your wallet again.

Bug fixes/minor improvements

Reactivated OMG and BNB to be used as collateral on the platform

and to be used as collateral on the platform Fixed UI glitches in the mobile version of the dapp that was causing text to overlap

Multiple minor bug fixes/improvements

Enjoy the new features and as always, happy lending!

PS: We are always looking for our community and users feedback and a pretty interesting discussion is happening on Reddit about governance, the future of the Lend token and potential upgrade of ETHLend !

So join us and make your voice heard !