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.
Bringing @AaveAave to StarkNet!✨— StarkWare (@StarkWareLtd) December 29, 2021
Let’s use DeFi Pooling to enable all users to participate in #AAVE’s L1 financial strategies, while paying L2 costs.
Let’s expand the reach of Aave to new users and new ecosystems.https://t.co/ipV07319xc pic.twitter.com/wTCGNGI8UN
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.
StarkNet is a highly-scalable Layer 2 scalability solution designed to increased the resource efficiency and usability of mainstream DeFi protocols.