Aave Enters New Territory with Aptos Testnet Deployment

Aave Expands to Aptos, Eyes Broader Reach Beyond EVM Ecosystems

Aave, the largest lender in decentralized finance, has successfully deployed its third-generation lending protocol on the Aptos testnet. This development marks the project’s first non-EVM deployment and a significant step towards expanding its reach beyond EVM ecosystems.

The deployment was confirmed by Aave in a January 7 post, following an initial temperature check by the Aptos Foundation in July 2024. The Aptos Foundation had sought community feedback on launching Aave v3 on its mainnet. The test deployment on the Aptos testnet will enable both teams to conduct trials and stress tests to ensure that Aave v3 is ready for mainnet deployment.

Aave’s Path to Mainnet Deployment

If the on-chain rehearsal on the Aptos testnet succeeds, the Aptos Foundation will likely proceed with a governance vote to launch Aave v3 on the Aptos mainnet. Aave Labs has expressed excitement about presenting a working implementation of Aave v3 on the Aptos testnet, a codebase written in Move.

After several months of hard work, Aave Labs is excited to present a working implementation of Aave V3 on the Aptos testnet, a codebase written in Move.

Aave’s Ambitious 2025 Plans

Aave, built by Avara, is the biggest DeFi lender, with over $22 billion in user deposits. The protocol was initially launched in 2017 as “ETHLend” on Ethereum before CEO Stani Kulechov rebranded it in 2018 and expanded to other blockchains. Aave has since spread to 11 other networks, including scaling solutions like Base and Polygon.

Kulechov and his team are aiming for a massive 2025 run, teasing a fourth-generation protocol as the lender hit a record $35 billion in total value locked last year. According to a DAO proposal, the team plans to extend its service to six new chains, including Aptos, Botanix Labs’ Spider Chain, Linea, Mantle, and Sonic.

Key Takeaways:

  • Aave has deployed its third-generation lending protocol on the Aptos testnet.
  • The deployment marks Aave’s first non-EVM deployment and a significant step towards expanding its reach beyond EVM ecosystems.
  • Aave plans to extend its service to six new chains, including Aptos, Botanix Labs’ Spider Chain, Linea, Mantle, and Sonic.

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