Aave V3 Protocol Proposal Receives Overwhelming Support in Temperature Check Vote
A “temperature check” proposal to deploy the third version of the decentralized lending and borrowing protocol Aave has received overwhelming support from the Aave community. The proposal aims to launch Aave V3 on the zero-knowledge Ethereum Virtual Machine (zkEVM) and was first pitched on March 26. When voting closed on April 16, more than 99% of Aave tokenholders casting ballots had voted in favor of the proposal.
The next steps listed in the proposal after the positive temperature check result will be to proceed to another stage for further discussion, followed by risk parameter evaluation and finalization of the proposal. If successful, the proposal will then be submitted for voting and on-chain governance approval.
Deployment Limited to USDC and ETH
The proposed deployment of Aave V3 on zkSync will be limited to the USD Coin (USDC) and Ether (ETH) assets, as stated in the initial proposal. This decision was made in order to carefully manage the deployment process and ensure the stability and security of the protocol.
Near-Unanimous Support with Minimal Opposition
The overwhelming support for the Aave V3 proposal is evident from the fact that only around 0.02% of voters cast their ballots against it, with a further 0.02% abstaining from voting. This near-unanimous support highlights the positive sentiment among the Aave community towards the deployment of Aave V3 on zkSync.
Potential Benefits of zkSync Deployment
The proposal states that deploying Aave V3 on zkSync can bring several benefits to the Aave ecosystem. One of the main advantages is the potential to introduce new users into decentralized finance (DeFi) by leveraging zkSync’s scaling capabilities, which can help improve transaction speed and reduce gas fees. Additionally, the deployment can further cement Aave’s position as a premier borrowing platform within the zero-knowledge ecosystem, enhancing its competitiveness in the DeFi space.
Similar Deployment by Uniswap on Polygon
Notably, the deployment of Aave V3 on zkSync follows a similar move by decentralized exchange Uniswap, which has also successfully passed a governance proposal to launch on the zkEVM solution provided by Polygon. This indicates a growing trend among DeFi protocols to explore and leverage different scaling solutions to enhance the performance and accessibility of their platforms.
Conclusion
The recent temperature check vote in favor of deploying Aave V3 on zkSync reflects the strong support and positive sentiment among the Aave community for the proposed upgrade. If the subsequent stages of the proposal are successful, it has the potential to bring significant benefits to the Aave ecosystem and further solidify Aave’s position as a leading DeFi platform. With the growing adoption of different scaling solutions in the DeFi space, it will be interesting to see how Aave and other protocols continue to evolve and innovate in the ever-changing landscape of decentralized finance.
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