About Aave Binance-Peg ETH

An Aave receipt token representing a deposit of Binance-Peg Ethereum (ETH) in the Aave lending protocol. aETH holders earn interest continuously and can redeem their tokens for ETH at any time. The underlying is Binance's BNB Chain ETH token, not ether itself, so the position carries Binance's custody risk on top of Aave's.