Aptos Foundation suggests implementing Aave V3 on the primary network of Aptos
The Aptos Foundation has proposed deploying Aave V3 on Aptos’ Layer 1 blockchain mainnet. This initiative has entered its “temperature check” phase, a part of the governance process inviting community feedback.
If approved, the launch of Aave V3 on Aptos’ L1 blockchain promises to significantly expand Aave’s footprint, tapping into a burgeoning DeFi ecosystem. Aave Labs has already implemented integration code for this deployment on the Aptos testnet, as announced by the Aptos Foundation.
“We fully support this proposal and are enthusiastic about the potential it offers for both the Aave and Aptos communities,” stated the Aave Labs team.
Next in line, the Aptos Foundation plans to integrate ChainLink’s Price Feeds and its Cross-Chain Interoperability Protocol (CCIP), aiming to bolster the functionality and security of Aave V3 on the Aptos platform.
Deploying Aave V3 on Aptos represents the DeFi protocol’s first non-EVM deployment, opening up new user bases and integration possibilities, thus broadening Aave’s influence. This move also grants a pioneering advantage, reminiscent of Aave’s expansion onto Polygon. Other advantages include high transaction throughput of up to 30,000 transactions per second (TPS) on Aptos, improved security, cost-effective transactions, and a flexible, modular architecture.
Moreover, drawing from their experience with projects like Meta’s Diem, the Aptos team brings substantial expertise to this endeavor.
For Aave DAO, this deployment signifies potential market share growth, particularly in the Asia-Pacific region and Korea, where Aptos has gained significant traction, leading to increased revenue streams and overall revenue growth.
Additionally, Aptos plans to support this initiative with an incentive program offering up to 2 million APT in liquidity mining and rewards.
