Is Aave built on Ethereum?

Could you clarify for me, is Aave indeed constructed on the Ethereum blockchain? I've heard rumors about its decentralized finance capabilities, but I'm not entirely sure about its underlying technology. Could you please elaborate on this point and maybe explain why the Ethereum platform was chosen for this particular project? Also, does this mean that Aave shares some of the same characteristics as other Ethereum-based projects? I'm quite interested in understanding the technological nuances behind it.