The community approves Aave's proposal to launch on zkEVM.

The community approves Aave’s proposal to launch on zkEVM

Defi news, News

To increase its presence in zkEVM, the leading DeFi protocol Aave proposed launching Aave V3 on the zkSync Era Mainnet. The “temperature check” vote, which the Aave community uses to gauge whether a proposal has enough support to pass, resulted in the proposal’s approval.

According to the proposal, “zkSync will further Aave’s expansion cross-chain, reinforcing Aave’s place as the top liquidity market.”

The results of the preliminary vote have shown that nearly more than 99% of Aave holders are in favor of the proposal. This opens the door for Aave to move forward with its plan to launch on zkEVM.

On the other hand, the initial launch will only support Ethereum (ETH) and USD Coin (USDC), with the intention of expanding the available options in the near future.

The migration of Aave to zkEVM is notable because it represents one of the first major DeFi protocols to embrace layer-2 scaling solutions. This makes the change significant. Aave will be able to offer transactions that are quick, secure, and inexpensive by utilizing the ZK-rollup technology offered by zkEVM. The level of security and decentralization that the Ethereum network provides will continue to be maintained by the platform.

Although it has not been officially announced, the launch of Aave on zkEVM is anticipated to take place later on in this year. A major advance for Aave is represented by the proposal’s successful completion of the community vote. It is anticipated that other DeFi protocols will be encouraged to think about layer-2 scaling solutions as a result of this news.

Compiled by Coinbold

ETH, NEAR, Stable Coin, USDC, zksync