News Report Technology
August 22, 2024

Aave Deploys Its V3 On ZKsync Era Mainnet

In Brief

Aave deployed Aave V3 on ZKsync Era Mainnet to broaden the DeFi user base and open up new opportunities for institutional use cases.

Aave Deploys Its V3 On ZKsync Era Mainnet

Decentralized finance (DeFi) lending protocol Aave announced that Aave V3 has been deployed on the ZKsync Era Mainnet, bringing improvements in scalability, privacy, and security. This development aims to broaden the DeFi user base and open up new opportunities for institutional use cases.

ZKsync represents a Layer 2 protocol designed to facilitate scalable and low-cost payments on Ethereum, using zero-knowledge (ZK) rollup technology to achieve this. Developed by Matter Labs, it is a user-focused platform that operates without requiring trust, ensuring secure and efficient transactions.

This latest development will advance the Elastic Chain ecosystem by introducing liquidity and yield generation features. In addition, Chainlink will supply secure and reliable price feeds.

Following a successful evaluation conducted by BGD Labs and a favorable risk assessment by Chaos Labs, along with asset and parameter recommendations from risk service providers, BGD Labs proceeded with the deployment. The Aave DAO has greenlighted USDC, USDT, WETH, and wstETH as the first assets on Era Mainnet.

Furthermore, the Aave Chan Initiative (ACI), serving as a delegate and service provider for Aave DAO, will manage GHOAve incentives on behalf of the DAO. ACI will allocate airdrops from the ZKsync ecosystem through various channels, encompassing liquidity incentives, safety module deployments, and Merit programs.

Aave Protocol V3: Enhancing DeFi With Improved Efficiency, Security, And Cross-Chain Functionality

The Aave Protocol functions as a decentralized, non-custodial liquidity platform that enables users to engage as suppliers, borrowers, or liquidators. Suppliers contribute liquidity to the market and generate interest on the cryptocurrency assets they offer, while borrowers have the option to access loans in an overcollateralized manner. Additionally, borrowers can use one-block borrow transactions, known as “flash loans,” which do not require overcollateralization.

Aave V3 builds upon its foundational features, such as aTokens, instant liquidity, stable rate borrowing, as well as credit delegation, by introducing several enhancements. V3 offers improved capital efficiency, stronger security measures, and cross-chain functionality while also promoting greater decentralization throughout the protocol.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

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.

More articles
Alisa Davidson
Alisa Davidson

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.

Hot Stories
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
Proposal To Halve Ethereum’s Block Times Gains Traction
News Report Technology
Proposal To Halve Ethereum’s Block Times Gains Traction
June 27, 2025
Binance Research: Bitcoin Recovers As Geopolitical Tensions Ease, Fed Signals Caution, Altcoin Outlook Mixed
Markets News Report Technology
Binance Research: Bitcoin Recovers As Geopolitical Tensions Ease, Fed Signals Caution, Altcoin Outlook Mixed
June 27, 2025
CryptoQuant: Altcoin Exchange Flows Fall, Indicating Market Consolidation And Potential Pre-Rally Phase
Markets News Report Technology
CryptoQuant: Altcoin Exchange Flows Fall, Indicating Market Consolidation And Potential Pre-Rally Phase
June 27, 2025
Aave Deploys V3 On Aptos, Launches $100K CTF Challenge Following Cantina-Led Security Review
News Report Technology
Aave Deploys V3 On Aptos, Launches $100K CTF Challenge Following Cantina-Led Security Review
June 27, 2025