🌎 Aave Launches on Sonic Mainnet

Aave Expands to Sonic Mainnet, Boosting DeFi Ecosystem

Aave, a leading decentralized finance (DeFi) protocol, has officially launched its version 3 network on the Sonic mainnet, a blockchain platform that promises innovative features and fee monetization for apps.

The deployment of Aave v3 on Sonic follows a recent governance proposal aimed at bringing the lending market to the network. Web3 platform and Aave contributor bgdlabs managed the deployment, while Chaos Labs and LlamaRisk conducted the risk assessment. Chainlink, an on-chain finance and oracle platform, provides price feeds for the protocol.

Aave’s Expansion to Sonic: A Strategic Move

Sonic Labs launched its layer-1 mainnet in December 2024, the same month Aave DAO delegate Aave Chan introduced the v3-to-Sonic governance proposal. The AAVE community later approved the proposal, paving the way for the deployment. Going live on the Sonic network marks Aave’s first expansion of the year, further strengthening its presence in the broader DeFi ecosystem.

This deployment introduces borrowing and lending opportunities for Sonic users, who can now earn DeFi-related incentives on Aave. To encourage early adoption, Aave and Sonic Labs are offering $15 million in S tokens and $800,000 in AAVE tokens as incentives. Users can access these opportunities through an initial list of supported assets, including USDC, WETH, and wS.

Aave has deployed on multiple promising new L1 and L2 EVM networks and is often one of the largest protocols on these networks. Given the impressive history of the team building Sonic, and the innovations it promises, it represents a strong candidate for deployment of Aave V3.

Sonic Labs co-founder Andre Cronje noted that Sonic “is the only chain where you get paid for the activity you create.” Aave currently has a total value locked of more than $18.7 billion, with this slightly down on the peak of over $22 billion reached on December 14, 2024.