Aave V3 Arrives On Linea Mainnet, Offering Users Increased Transaction Speed And Lower Fees
In Brief
Aave has deployed Aave V3 on the Linea mainnet, offering WETH, USDC, USDT, WBTC, wstETH, weETH, and ezETH as the initial collateral assets.
Decentralized finance (DeFi) lending platform Aave announced the launch of Aave V3 on the Ethereum-equivalent zero-knowledge Ethereum virtual machine (zkEVM) rollup, Linea mainnet. This integration enables users to supply and borrow assets with increased transaction speed and lower fees.
The deployment was carried out by a Web3 development initiative contributing to Aave BGD Labs on behalf of Aave DAO. Risk assessments were conducted by Chaos Labs, an on-chain risk management firm, and Llama Risk, a DeFi risk and transparency organization. Additionally, Chainlink, a decentralized blockchain oracle network, will provide secure and reliable price feeds. The initial collateral assets available on the platform include WETH, USDC, USDT, WBTC, wstETH, weETH, and ezETH.
Linea, a Layer 2 network built on Ethereum, is powered by a zkEVM technology stack developed by Consensys. The platform is the result of over five years of cryptographic research and 20 months of dedicated development. The Consensys team has an established presence in the zero-knowledge (ZK) space, contributing to advancements such as the GNARK library and playing an active role in Ethereum’s Merge. Linea benefits from strong connections within the developer ecosystem, including integrations with MetaMask, SMG, and Infura.
By launching on Linea, Aave can take advantage of high transaction throughput and fast finality, ensuring efficient processing and reduced gas fees. Furthermore, Linea’s integration with Consensys products facilitates seamless access for users, potentially reaching MetaMask’s 30 million active users. This expansion enhances Aave’s accessibility and broadens its DeFi user base.
One of the anticipated advantages of deploying on Linea is its ability to support high transaction throughput and fast finality, key features that enhance the scalability of ZK networks. This allows Aave to expand efficiently in parallel with Linea as the technology continues to evolve. Additionally, Linea’s integration with Consensys products such as MetaMask and Infura streamlines user access, potentially making decentralized finance (DeFi) more accessible to MetaMask’s 30 million active users.
Furthermore, following the successful deployment and stabilization of Aave on Linea, the Consensys team aims to enable GHO, Aave’s native stablecoin, for spending via the MetaMask Debit Card, which is exclusively available on the Linea network. With growth opportunities expected for Linea in the first half of the year, positioning Aave as the leading lending market on the platform will contribute to the long-term sustainability and expansion of the Aave protocol.
Aave DAO has also committed to redistributing any airdrops provided by the Linea ecosystem back to Aave users. These distributions may take the form of liquidity mining rewards, secondary liquidity incentives for GHO, safety module deployments, or merit-based programs. The Aave Chan Initiative (ACI), acting on behalf of Aave DAO, will oversee any liquidity mining initiatives associated with Aave V3’s deployment on Linea.
What Is Aave V3?
Aave functions as a non-custodial liquidity market protocol, allowing users to participate in the protocol either as liquidity suppliers or borrowers. As suppliers, users contribute their funds to the platform and earn passive income through the interest accrued on loans. Alternatively, borrowers can access funds through mechanisms like perpetual borrowing or one-block liquidity. This structure provides participants with a flexible and decentralized means of engaging with the platform.
Aave V3 brings several improvements, including improved capital efficiency, enhanced security features, and cross-chain capabilities, all designed to reinforce the platform’s decentralization. Key features include an isolation mode, which allows Aave Governance to list new assets as isolated assets with specified debt ceilings, and an efficiency mode (E-mode), which optimizes the use of capital when the collateral and borrowed assets share a closely correlated price.
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, 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.
