Aave

Ethereum

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Aave V3 has launched on the ZKSync Era mainnet to unlock liquidity and yield generation for users of the zero-knowledge-powered blockchain ecosystem.
Aave Labs said in a <a href="https://avara.xyz/blog/aave-launches-on-era-mainnet-powered-by-zksync" target="_blank" rel="noopener noreferrer nofollow">blog post</a> that the deployment of Aave (<a href="https://crypto.news/price/aave/" target="_blank" rel="noopener noreferrer nofollow">AAVE</a>) V3 on Era will see the community leverage advanced ZK technology to benefit from expanded access to decentralized finance.
Integration also means more institutional use cases within the Elastic Chain, a network of standalone chains, including rollups that tap into ZKSync’s technology. Recently, the Aptos Foundation <a href="https://crypto.news/aptos-foundation-proposes-deploying-aave-v3-on-aptos-mainnet/" rel="noopener noreferrer nofollow">proposed</a> the deployment of Aave V3 on the Aptos (<a href="https://crypto.news/price/aptos/" rel="noopener noreferrer nofollow">APT</a>) mainnet.
<h2 class="wp-block-heading" id="a-gateway-to-defi">A gateway to DeFi</h2>
With the deployment, new institutional use cases that will be available to users include private networks and custom platforms tailored for given asset classes, user risk profiles, and segments.
The integration also brings GHO, a decentralized overcollateralized stablecoin native to Aave, to users.
According to Stani Kulechov, founder and chief executive officer of Aave Labs, the launch of Aave V3 on Era offers both Aave and ZKsync communities an opportunity for further collaboration and innovation.
“By combining ZK-proofs and the unified Elastic Chain ecosystem, Aave can unlock unprecedented scalability, privacy, and security, expanding the DeFi user base and new institutional use cases,” Kulechov added.
Read more: <a href="https://crypto.news/defi-protocol-aave-v3-goes-live-on-ethereum-mainnet/" rel="noopener noreferrer nofollow"> DeFi protocol Aave V3 goes live on ethereum mainnet </a>
<h2 class="wp-block-heading" id="chainlink-price-feeds-integrated">Chainlink price feeds integrated</h2>
Aave V3’s deployment on Era also includes the integration of Chainlink (<a href="https://crypto.news/price/chainlink/" rel="noopener noreferrer nofollow">LINK</a>) to offer access to reliable price feeds.
Meanwhile, Aave DAO delegate and service provider Aave Chan Initiative will coordinate and redistribute any airdrops from ZKsync through liquidity mining and other incentives.
The Aave DAO has reportedly approved four assets for initial accessibility on Era. These include the stablecoins <a href="https://crypto.news/price/tether/" rel="noopener noreferrer nofollow">USDT</a> and <a href="https://crypto.news/price/usd-coin/" rel="noopener noreferrer nofollow">USDC</a>, Wrapped Ethereum (<a href="https://crypto.news/price/wrapped-eth/" rel="noopener noreferrer nofollow">WETH</a>), and Wrapped stETH (<a href="https://crypto.news/price/wrapped-steth/" rel="noopener noreferrer nofollow">wstETH</a>).
You might also like: <a href="https://crypto.news/whales-keep-accumulating-aave-as-prices-hit-overbought-levels/" rel="noopener noreferrer nofollow"> Whales keep accumulating Aave as prices hit overbought levels </a>

Aave V3 goes live on ZKSync’s Era mainnet

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