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July 01, 2024

Aave To Collaborate With Aptos For Building Aave V3’s First Non-EVM Codebase In Move

In Brief

Aave partnered with Aptos to develop the first non-EVM codebase for Aave Protocol V3 in Move programming language.

Aave To Collaborate With Aptos For Building Aave V3's First Non-EVM Codebase In Move

Founder of the decentralized finance (DeFi) lending protocol Aave, Stani Kulechov, announced in a post on social media platform X that Aave has entered a partnership with Layer 1 blockchain platform Aptos to develop the first non-EVM codebase for Aave Protocol V3 in Move programming language.

This proposal from the Aptos Foundation is a component of the Aave 2030 plan aimed at extending the Aave Protocol’s reach beyond EVM networks, he added.

The Aptos Foundation, dedicated to fostering the growth of the Aptos protocol, has introduced a proposal to deploy Aave V3 on the Aptos Mainnet to its community as part of Aave’s open governance process. It has also developed integration code and deployed it on the Aptos testnet. Aptos states that the integration code is currently being audited.

Currently, Aptos is soliciting community input on the deployment of Aave V3 on its platform to enhance Aave’s presence and leverage Aptos’ expanding DeFi ecosystem and user base.

The deployment is expected to explore new technological possibilities and broaden Aave’s ecosystem. Additionally, by utilizing Aptos’ technology and developer community, Aave aims to address diverse financial needs, attract fresh users, and stimulate innovation within the DeFi sector.

Furthermore, Aptos emphasized several advantages of the deployment, which encompass the first non-EVM implementation for Aave, high transaction throughput, improved security through the Move, cost-effective transactions, a modular and adaptable architecture, and economic benefits for the Aave DAO.

Aptos operates as a Proof-of-Stake (PoS) smart contract network employing the Move for executing transactions within its virtual machine (VM).

Aave Seeks Community Vote To Deploy Customized Aave V3 Instance On Lido

As a non-custodial liquidity market protocol, Aave provides users with the flexibility to take part as liquidity suppliers or as borrowers. Suppliers can contribute funds to earn passive income via interest, while borrowers can borrow funds using perpetual or one-block liquidity methods.

Recently, Aave launched a community vote to gather user opinions on implementing the “Lido Aave V3 instance.” The proposal involves Aave DAO collaborating with the Lido Alliance to deploy a customized Aave V3 instance designed particularly for Lido.

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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 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.

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