TL;DR
- Aave launches V3 on the Era Mainnet, backed by ZKsync, to enhance liquidity and yield in the Elastic Chain ecosystem.
- Chainlink will provide secure price feeds for the integration, improving scalability and accuracy.
- The protocol’s DAO has approved USDC, USDT, WETH, and wstETH as initial assets on Era and will redistribute ZKsync ecosystem airdrops.
Aave, one of the leading decentralized lending protocols in the DeFi industry, has announced the launch of V3 on the Era Mainnet, supported by ZKsync technology. This integration will allow the protocol to introduce new capabilities within the Elastic Chain ecosystem, a network of chains enabled by ZKsync.
The deployment of Aave V3 on Era aims to boost liquidity and offer new yield generation opportunities within the Elastic Chain ecosystem, which is based on ZKsync technology. ZKsync’s zero-knowledge (ZK) proof technology facilitates secure, low-cost transactions, enabling Aave to benefit from enhanced scalability and privacy. The combination of this technology with the Elastic Chain has the potential to unlock new opportunities for both individual users and institutions.
Aave V3 is debuting on Era Mainnet, powered by @zksync, unlocking unprecedented scalability, privacy, and security while expanding the DeFi user base and new institutional use cases. pic.twitter.com/blNlUjsalX
— Aave Labs (@aave) August 21, 2024
Chainlink, known for its reliable data services, will provide secure price feeds for the integration, ensuring the accuracy and reliability of the information used by Aave on the Era network. This is a crucial advancement for DeFi scalability and could increase institutional adoption of blockchain technology.
Aave Will Redistribute ZKsync Airdrops
The launch could also pave the way for privacy-focused DeFi applications. The teams involved view the integration as an opportunity to enable new institutional use cases, such as private or customized networks for different asset classes and risk profiles.
The DAO has approved four initial assets for availability on Era: USDC, USDT, WETH, and wstETH. Additionally, the protocol has received positive technical evaluation from BGD Labs, reinforcing confidence in the new implementation.
Aave is also committed to redistributing the airdrops received from the ZKsync ecosystem through liquidity mining programs, which will include incentives for GHO, the protocol’s overcollateralized native stablecoin. Furthermore, the social protocol Lens is in the process of migrating from Polygon to ZKsync, with the transition scheduled for the fourth quarter of this year.
