Aave protocol allows anyone to interact with a user interface client, API, or directly with the smart contracts on the Ethereum network. In this case, users can build any third-party service or application to interact with the protocol, enriching their product.
The tokens are pegged 1:1 to the value of the underlying asset that is deposited in the Aave protocol. ATokens can be freely stored, transferred, and traded.
Flash Loans is a feature that allows users to borrow any available amount of asset instantly and easily without any collateral. Such a feature is mainly designed for developers given the technical expertise required to execute one.
Aave Protocol provides a rate switching service which allows borrowers to lock in the interest rates of their loans or choose to keep floating rates.