Aave Labs has announced the launch of its new consumer-facing Aave App

The Aave App positions itself as a simple, high-yield alternative to conventional savings options. Users start with a base rate of over 5% APY, which can be boosted through various incentives, including rewards for early setup, qualifying recurring contributions, and inviting friends. This structure enables savvy users to reach the advertised maximum of up to 9%, surpassing typical fintech and bank rates. Interest compounds continuously, powered by Aave's underlying DeFi protocol, which has managed billions in deposits with a strong security track record.

Funding the app is straightforward, with support for thousands of banks (with per-transfer limits), debit cards (with limits), and unlimited stablecoin wallets. Withdrawals are available anytime without penalties, emphasizing the app's "your money, your rules" philosophy. The balance protection, backed by insurance, exceeds the industry standard offered by traditional banks, subject to policy limits and eligibility conditions to be detailed at full launch.

The launch follows Aave's recent acquisition of Stable Finance, aimed at accelerating consumer DeFi innovations, and comes amid regulatory advancements like MiCAR approval in Europe for zero-fee on- and off-ramping services. While currently available for early access on iOS, Android and web versions are slated for release soon. Interested users can join the waitlist and get notified via the official Aave website.

Join the waitlist today: https://aave.com/app