Aave

2024

Aptos

Foundation

Frontier

In a notable development, the Aptos Foundation has approached the Aave community seeking input for its latest initiative. The foundation aims to introduce the Aave Protocol v3 to the Aptos mainnet, marking a potential first for the protocol on a non-Ethereum Virtual Machine (EVM) blockchain.
Frontier for Decentralized Finance
The proposal, detailed in a recent <a href="https://governance.aave.com/t/temp-check-aave-v3-deployment-on-aptos-mainnet/18124" target="_blank" rel="noopener noreferrer nofollow">temperature check</a>, suggests expanding Aave’s reach beyond its traditional EVM-compatible environments. Aptos, a layer-1 blockchain known for its scalability, operates on a unique framework designed around the Move programming language, originally developed for Facebook’s Libra project.&nbsp;
This integration promises to handle up to 30,000 transactions per second, enhancing the protocol’s efficiency.
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 Aptos Foundation has introduced a proposal to deploy Aave V3 on Aptos Mainnet as part of Aave’s open governance process. Aave Labs has built integration code and deployed it onto the Aptos testnet. If approved, this will be Aave's first deployment to a non-EVM blockchain. Read…— Aptos (@Aptos) <a href="https://twitter.com/Aptos/status/1807781012291949047?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 1, 2024</a>
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Market Expansion
Aave Labs has already adapted the Aave Protocol into the Move programming language, preparing for a seamless transition pending community approval. This collaboration could open up innovative use cases in the decentralized finance sector that were previously unattainable under EVM restrictions.
Moreover, the Aptos blockchain has demonstrated significant growth, recently recording a peak of 115.4 million transactions in a single day. This surge underscores the platform’s increasing popularity and robust performance capabilities. However, it has also faced hurdles, such as a five-hour outage last October, which temporarily impacted transactions and prompted exchanges to halt network activities.
Additionally, this partnership aligns with Aave’s strategy to diversify its applications and foster broader community engagement. By bridging two technologically distinct platforms, Aptos and Aave are poised to enrich the blockchain ecosystem with enhanced functionalities and a wider reach.
This strategic move could set a precedent for future collaborations between blockchain platforms, potentially driving further innovations in the decentralized finance landscape.
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 Also Read: <a href="https://www.cryptotimes.io/2024/05/31/aptos-foundation-collaborates-with-chainlinks-scale-program/" target="_blank" rel="noopener noreferrer nofollow">Aptos Foundation Partners with Chainlink’s SCALE Program</a>
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Aptos Foundation Proposes Aave v3 Integration on Mainnet

The Crypto Times

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