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Ethereum

DeFi Lender Aave Launches On Ethereum Network Version 3

January 27, 2023 - Around 2 mins mins to read

Key Points:

  • Aave has launched its third iteration on the Ethereum network in response to unanimity in favor of a governance proposal.
  • The upgrade also aims to optimize gas utilization, this will result in a 20%–25% reduction in gas expenditures across all functions.
  • Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days.
Aave, a decentralized lending and borrowing system, has launched its third iteration on the Ethereum network in response to unanimity in favor of a governance proposal.
DeFi Lender Aave Launches on Ethereum Network Version 3 1

The Aave V3 upgrade will put a special emphasis on reducing user risk and enhancing capital efficiency (High Efficiency Mode) when staking or borrowing correlated assets like stablecoins and liquid staking derivates (LSDs). Liquid staking derivatives are contracts for derivative products that let consumers keep an asset’s liquidity while staking it in exchange for a payout.

Users can take use of the most borrowing power from their collateral for linked assets by using High Efficiency Mode, commonly known as eMode. Now, users can stake larger sums of assets, such as wstETH (wrapped staked ethereum), for rewards on the Ethereum network.

The upgrade also aims to optimize gas utilization; according to Aave, this will result in a 20%–25% reduction in gas expenditures across all functions. On Ethereum, gas is a transaction fee that is given to validators.

According to DeFiLlama, the Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days.

The price of the Aave token, which may be used as collateral on the platform, is $86.73 as of right now.

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

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

AAVE

DeFi lender

Ethereum network

Network Version 3

Avatar of Annie

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Ethereum

DeFi Lender Aave Launches On Ethereum Network Version 3

Key Points:

  • Aave has launched its third iteration on the Ethereum network in response to unanimity in favor of a governance proposal.
  • The upgrade also aims to optimize gas utilization, this will result in a 20%–25% reduction in gas expenditures across all functions.
  • Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days.
Aave, a decentralized lending and borrowing system, has launched its third iteration on the Ethereum network in response to unanimity in favor of a governance proposal.
DeFi Lender Aave Launches on Ethereum Network Version 3 1

The Aave V3 upgrade will put a special emphasis on reducing user risk and enhancing capital efficiency (High Efficiency Mode) when staking or borrowing correlated assets like stablecoins and liquid staking derivates (LSDs). Liquid staking derivatives are contracts for derivative products that let consumers keep an asset’s liquidity while staking it in exchange for a payout.

Users can take use of the most borrowing power from their collateral for linked assets by using High Efficiency Mode, commonly known as eMode. Now, users can stake larger sums of assets, such as wstETH (wrapped staked ethereum), for rewards on the Ethereum network.

The upgrade also aims to optimize gas utilization; according to Aave, this will result in a 20%–25% reduction in gas expenditures across all functions. On Ethereum, gas is a transaction fee that is given to validators.

According to DeFiLlama, the Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days.

The price of the Aave token, which may be used as collateral on the platform, is $86.73 as of right now.

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

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News