Aave KNC v1 (AKNC) is an aToken in the Aave ecosystem. It represents supplied cryptocurrency assets and their yield. aTokens are stored, transferred, and traded. Yield is distributed to holders, increasing their balance. AKNC implements EIP20 methods. It is used in Aave to represent supplied KNC and earned yield. Users can supply assets and receive aTokens, with increasing balances over time. AKNC can be transferred but only the holder can withdraw the deposited asset. Aave was created by Stani Kulechov and his team, initially known as ETHLend in November 2017 and rebranded to Aave in September 2018.
