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How to Interact with the Aave Protocol Directly + Testnet User Interface

In this tutorial, regarding the Aave protocol, we are going to connect our Metamask to the Aave website to be able to interact with the Aave protocol directly. Then, we will switch to the Testnet. We will also get some Kovan ETH from the Chainlink Kovan faucet. Using the test ETH we have got, we will deposit it, withdraw Dai, and then finally pay back all the funds.

What Is Aave Protocol?

Aave is a decentralized finance (DeFi) protocol that allows us to borrow and lend our crypto assets. It provides tools to deposit our money and get some yields or borrow some money and repay whenever we want with a certain APY.
Now, we are going to first interact manually with the user interface at the Aave web app and then get into the code interaction with the Aave protocol.

Connecting Metamask to Aave:

First of all, you should connect your Metamask wallet to the Aave web app.

Interact with Aave Protocol

Then from the top right settings button, switch to Testnet mode

Interact with Aave Protocol

Getting Kovan ETH:

Also, don’t forget to get some Kovan ETH from this link:

Interact with Aave Protocol

Interacting with Aave Protocol Directly

Once your wallet is connected and you have got some kovan ETH, you will be able to see that your available asset on kovan test network is displayed on the webpage:

Interact with Aave Protocol

Now, in order to deposit or supply some ETH, Click supply and choose the amount of ETH you want to supply or lend. And then click Supply ETH.

Interact with Aave Protocol

You will see the Metamask pop-up asking for confirmation:

Interact with Aave Protocol

And there we go! We have deposited 0.1 ETH.

Interact with Aave Protocol

You can activate and deactivate the collateral option, you can also withdraw the money any time you want, and if you balance you will notice that the amount increases little by little.

Interact with Aave Protocol

You can also borrow any other assets that you want. To do that, you should click borrow next to the token that you want to borrow and choose the borrow APY rate and check the health factor to avoid being liquidated.

Interact with Aave Protocol

Click borrow DAI (the token we have chosen to borrow) and confirm the Metamask pop-up.

Aave Protocol

Now, you can see the borrows and supplies (deposits) lists on top.

Aave Protocol

You can repay DAI whenever you want. To do that, click repay:

Aave Protocol

Notice that even if you choose the max amount, you cannot repay all of it because the amount of debt has increased with time because of APY. Click approve to continue and confirm the Metamask pop-up.

Aave Protocol

After it is successfully done, you will be able to see that your debt has decreased to a very small fraction of DAI.

Aave Protocol

In the next part, we are going to interact with these tools through python scripts.

Last Thought

In this tutorial, we have managed to connect our Metamask to the Aave website to be able to interact with the Aave protocol directly. Then, we switched to Testnet. We also got some Kovan ETH from the Chainlink Kovan faucet. Using the test ETH we have got, we have managed to deposit it, withdraw Dai, and pay it back.

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