TL;DR
- Aave V3 will be deployed for the first time on a non-EVM-compatible blockchain, Aptos, marking a milestone for the DeFi economy.
- Aptos offers a capacity of over 30,000 transactions per second (TPS), predictable low costs, and advanced security with the Move programming language, ideal for high-performance DeFi applications.
- The deployment process includes an initial “temperature check” phase, followed by a “snapshot” vote and security audits with ChainLink integration.
The Aptos Foundation has proposed an exciting advancement for the DeFi industry with the deployment of Aave V3 on its main network. This initiative would mark the first time that Aave, a widely recognized open-source liquidity protocol in the industry, is implemented on a non-EVM (Ethereum Virtual Machine) compatible blockchain.
APT, designed to offer scalable and secure dApps, stands out with its capacity to handle over 30,000 transactions per second (TPS), predictable transaction costs, and advanced security supported by the Move programming language. These tools make it an ideal environment for the development of DeFi applications requiring high performance and robust security.
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) July 1, 2024
The deployment process is currently in the initial “temperature check” phase, seeking community feedback before advancing to subsequent stages. This will include a “snapshot” vote, followed by an Aave Request for Comments (ARC) proposal to discuss specific implementation details, and ultimately an Aave Improvement Proposal (AIP) after thorough testing and security audits.
Aave and Aptos Leading the DeFi Economy
Additionally, integration with ChainLink will be conducted to provide price feeds and the Cross-Chain Interoperability Protocol (CCIP), enhancing functionalities and security for Aave on Aptos. Aave is expanding its reach into new markets and user bases in Asia-Pacific and Korea, where Aptos already has an established presence. It aims to position itself as a pioneer in expanding new blockchain technologies.
Aave Labs has already made progress in the initial integration and has deployed code on the Aptos test network. The process has been supported by ongoing security audits with Zellic, SpearBit, Certora, and OtterSec, ensuring compliance with the highest security and robustness standards for the protocol.
The deployment of Aave V3 on Aptos will offer new opportunities for financial innovation and attract a wide range of stakeholders, from retail users to financial institutions.
