Aave Community Unveils New ARFC Proposal To Deploy Aave V3 On ZKsync
In Brief
DeFi lending protocol Aave’s community introduced a new ARFC proposal aimed at securing votes for deploying Aave V3 on the ZKsync Era.
Decentralized finance (DeFi) lending protocol Aave‘s community introduced a new ARFC proposal aimed at securing votes for deploying Aave V3 on the ZKsync Era.
ZKsync employs zero-knowledge rollups to batch several transactions off-chain and validate them with a sole proof on Ethereum. This capability boosts transaction throughput and lowers gas expenditure. Additionally, deposit and borrowing operations benefit from these cost savings and enhanced efficiency. The deployment will provide benefits such as improved scalability and enhanced interoperability. It also will offer new possibilities for Aave DAO stablecoin GHO.
If the proposal gains a majority of votes, it subsequently will advance to the Snapshot phase. A positive outcome at Snapshot will lead to subsequent coordination with BGDLabs and Catapulta for deploying an Aave V3 instance on ZKsync Era. The voting is currently active and scheduled to conclude on June 21st. At present, the initiative has garnered unanimous support, with 100% of votes in favour.
Aave V3 introduces enhanced capital efficiencies, heightened security measures, and cross-chain capabilities, aiming to bolster decentralization throughout the protocol. Core capabilities include an isolation mode enabling Aave Governance to list new assets as isolated assets with specific debt ceilings and an E-mode optimizing capital efficiency when collateral and borrowed assets exhibit correlated prices.
Aave Launches Its Subgraph On The Graph, Enabling Developers And Users Access Decentralized Network With Multiple Indexers
Aave operates as a non-custodial liquidity market protocol in which individuals have the option to engage either as liquidity suppliers or borrowers. Suppliers contribute liquidity to generate passive income, while borrowers can borrow using perpetual or one-block liquidity methods.
Recently, Aave launched its protocol’s subgraph on The Graph. This integration allows Aave builders and users of its subgraph to leverage a decentralized network backed by multiple indexers, thereby bolstering support for their decentralized applications (dApps).
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
