Aave DAO delegate and service provider Aave Chan Initiative (ACI) has proposed the integration of Aave v3 on the newly launched Sonic layer-1 Ethereum Virtual Machine-compatible blockchain. The proposal, submitted on Aave’s governance forum, seeks community support for the deployment of Aave v3, which currently boasts over $22 billion in total value locked.

Sonic Mainnet Launch and Incentives

The Sonic Foundation has committed to providing significant incentives for the integration, including $15 million in funding, migration incentives, up to 50 million native Sonic tokens (S), and 20 million USDC supply. The proposal aims to leverage Sonic’s innovative features, such as faster finality and a fee monetization feature, to generate additional income for Aave.

Given the impressive history of the team building Sonic, and the innovations it promises, it represents a strong candidate for deployment of Aave V3. In addition, the fee monetization for apps has potential to be an additional income source for Aave.

Integration Process and Next Steps

The proposal will undergo a “Temp Check” to gather community input, followed by a snapshot stage, Aave Request for Comment (ARFC), and Aave Improvement Proposal (AIP). If the proposal receives the necessary support, it will proceed to a vote, ultimately leading to the deployment of Aave v3 on Sonic Mainnet.

Key Benefits of Sonic Mainnet Launch

The launch of Sonic Mainnet brings several key benefits, including:

  • Faster finality
  • Fee monetization feature
  • Native token S, which can be upgraded from Fantom (FTM) tokens on a 1:1 basis

As the crypto space continues to evolve, it’s essential to stay informed about the latest developments and innovations. For more news and updates on the world of cryptocurrencies and blockchain technology, visit Global Crypto News.

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