🌎 Aave V3 Deployment Proposed on Aptos Blockchain Mainnet

The Aptos Foundation has proposed the deployment of Aave V3 on the Layer 1 blockchain Aptos mainnet. Currently, this proposal is in the “temperature check” phase, a stage that involves community feedback. If approved, the launch of Aave V3 on the L1 blockchain will broaden Aave’s reach and integrate it further into the expanding DeFi ecosystem.

Integration Code Deployed on Aptos Testnet

A post by the Aptos Foundation on X (formerly Twitter) indicates that Aave Labs has already developed integration code for this deployment, which is now live on the Aptos testnet. “We are in full support of this proposal and excited about the potential it holds for both Aave and Aptos communities,” the Aave Labs team commented.

The Aptos Foundation also plans to integrate ChainLink’s Price Feeds and its Cross-Chain Interoperability Protocol (CCIP) to enhance the functionality and security of Aave V3 on Aptos.

Key Benefits of Aave V3 on Aptos

Deploying Aave V3 on the Aptos chain represents Aave’s first non-EVM deployment, which will open up new user bases and integrations as it extends its reach. The deployment offers several key benefits:

High Transaction Throughput: Aptos supports up to 30,000 transactions per second (TPS), ensuring efficient and fast transactions.
Enhanced Security: The integration will benefit from Aptos’ advanced security features.
Cost Efficiency: Transaction costs are expected to be lower, making it more economical for users.
Modular and Flexible Architecture: The architecture allows for easy updates and integrations.

The Aptos team brings considerable experience from past projects, including Meta’s Diem. For Aave DAO, this deployment could lead to market share growth, particularly in the Asia-Pacific region and Korea, where Aptos has shown strong traction. This expansion could also result in new revenue streams and increased revenue growth.

Furthermore, Aptos will support the program with an incentive program of up to 2 million APT in liquidity mining and rewards.