Main navigation

After Polygon (MATIC) and Avalanche (AVAX), Aave (AAVE) v3 Might Go Live on StarkNet

News
Wed, 12/29/2021 - 15:25
article image
Vladislav Sopov
Leading Layer 2 scaling solution StarkNet may be the next platform to host flagship DeFi protocol Aave
After Polygon (MATIC) and Avalanche (AVAX), Aave (AAVE) v3 Might Go Live on StarkNet
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

If passed, the new proposal by StarkWare's product manager, Yael Doweck, might supercharge top-tier DeFi protocol Aave with StarkNet's tools.

Following Polygon- and Avalanche-based releases, Aave v3 might be rolled out on StarkNet

According to the text of the "ARC: Deploying Aave on StarkNet" proposal submitted to the official governance portal of Aave decentralized finances protocol, StarkWare's PM Yael Doweck offers to deploy Aave v3 on StarkNet.

StarkNet is a second-layer scaling solution powered by a permissionless and decentralized ZK-rollup. This proposal is inspired by the recent collaboration between StarkWare and Maker DAO.

This integration may advance the security and resource efficiency of Aave's DeFi instruments. Besides Ethereum, Aave also launched on Avalanche and Polygon, so expanding to StarkWare looks like a natural milestone in its progress.

Besides gas efficiency and unmatched speed of transaction execution, Aave's liquidity design will be interoperable with other smart contracts networks.

StarkWare to co-fund the onboarding of Aave v3

All of these advancements will be implemented without sacrificing security. According to the authors of the proposal, similar systems can work with 1500x gas economy, handling 40 transactions per second regularly.

After explaining the roadmap of Aave's deployment to StarkNet, the proposal author offers Aave DAO enthusiasts to co-fund the initiative on a 1:1 basis with StarkWare.

Related
Ethereum's L2 vs. Solana: Expert Shares His Opinion

StarkNet is a highly-scalable Layer 2 scalability solution designed to increased the resource efficiency and usability of mainstream DeFi protocols.

article image
About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)