Aave, the decentralized and non-custodial liquidity market protocol, is on the verge of expanding its reach to other blockchain ecosystems. A temperature check vote was initiated on Monday to deploy Aave V3 on Starknet, with the voting process concluding on April 11.
The proposal outlines a two-stage integration process between Aave and Starknet, with the first phase already approved by the community, focusing on establishing a cross-chain bridge between Ethereum and Starknet. The second phase seeks to fully implement the Aave protocol on Starknet.
- Aave V3 Minimal Viable Version on Polygon’s zkEVM Mainnet
- Aave Expansion Initiative on BNB Chain
Aave V3 Minimal Viable Version on Polygon’s zkEVM Mainnet
This progress follows the community’s prior endorsement to deploy the Aave V3 minimal viable version on Polygon’s zkEVM mainnet, with the proposal recommending including only three collateral types and one lending asset to mitigate risk.
Starknet and Polygon’s zkEVM are zero-knowledge rollup networks conducting off-chain computations for swifter, cost-effective, and secure transactions.
Aave V3 represents the third major iteration of the protocol, introducing new features and optimizations, including more sophisticated risk management tools and parameters.
Aave Expansion Initiative on BNB Chain
Furthermore, Aave’s expansion initiative continues as Marc Zeller, the founder of Aave-Chan Initiative, proposed deploying Aave V3 on Bnb Chain to grow Aave’s presence further, tap into Binance-associated blockchain’s user base, and add revenue.
If approved, Aave V3 will deploy on BNB Chain and allow BNB, WBTC, BETH, WETH, USDC, and USDT as collateral. However, before deployment, feedback and input will be gathered from the Aave community to finalize the proposal, and the consensus must be reached and put to a governance vote.
Aave V3 is currently available on various blockchain networks, including Ethereum, Layer 2s such as Arbitrum and Optimism, Polygon POS sidechain, and three Layer 1s: Avalanche, Harmony, and Fantom.
In conclusion, Aave’s expansion initiatives have been impressive, with the protocol consistently seeking to reach other blockchain ecosystems while maintaining a strong commitment to risk management and the protection of users and the protocol.