News

Aave V3 Is Ready To Be Deployed On Ethereum

Stani Kulechov, the founder of Aave, tweeted that the Aave community is planning to deploy Aave V3 on Ethereum.

As a cross-chain strategy, the Aave V3 was launched earlier this year across multiple networks including Polygon, Avalanche, and L2s such as Arbitrum and Optimism.

According to the founder, the V3 will provide the most interesting feature which is the flexibility it gives for unleashing decentralized liquidity in both risk averse and capital efficient paths.

This version will provide users with improved features such as Siloed Borrowing, eMode, Portal, Risk Admins, and Isolation mode.

Stani Kulechov stated that with these features, users will be offered less liquid assets without affecting the main assets, lower borrowing power of any asset without affecting existing borrowers, delegate permissions to react faster to changing market conditions, grant the ability (subject to a fixed cap) to burn aTokens on the source network, or maximize capital efficiency within assets that correlate in value in the same category. The V3 Whitepaper has been updated with the complete details of this release.

He said that V3 has been successfully deployed and battle-tested across multiple markets, and that he is looking forward to the new deployment on the Ethereum market and offering customers a seamless means to transfer positions from V2 to V3 in order to take advantage of all the new features.

With a TVL of $5 billion, Aave is now one of the major protocols in the DeFi industry. Aave plays an important role in building the groundwork for future Lending projects.

Aave recently experienced an attack that resulted in bad debt; even if the attacker did not receive it, this is an occurrence that helps users better understand how the DeFi market works. Aave still needs to upgrade their goods in case this happens again in the future.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Chubbi

Coincu News

Chubbi

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