The Aptos Foundation has put forward a proposal to launch Aave V3 on the mainnet of the Layer 1 blockchain Aptos.
The deployment of Aave V3 on Aptos has entered the “temperature check” phase, a part of the platform’s governance process that seeks community feedback. If this proposal is accepted, the launch of Aave V3 on the Layer 1 blockchain will enhance Aave’s presence and integrate it into a burgeoning DeFi ecosystem.
Integration code for this deployment has already been implemented on the Aptos testnet, as reported by the Aptos Foundation on X. Aave Labs has confirmed this, stating, “We are in full support of this proposal and excited about the potential it holds for both Aave and Aptos communities.”
In addition, the Aptos Foundation plans to incorporate ChainLink’s Price Feeds and its Cross-Chain Interoperability Protocol (CCIP) to further boost the functionality and security of Aave V3 on Aptos.
The Aptos Foundation highlights several key advantages of deploying Aave V3 on the Aptos chain. This marks the DeFi protocol’s first non-EVM deployment, allowing Aave to reach new users and integrations. The move also provides a first-mover advantage, similar to Aave’s earlier expansion to the blockchain platform Polygon. Other benefits include Aptos’ high transaction throughput of up to 30,000 transactions per second (TPS), enhanced security, cost-efficient transactions, and a flexible, modular architecture.
The Aptos team brings valuable experience from projects such as Meta’s Diem, which will benefit this integration. For Aave DAO, this deployment is expected to boost market share, particularly in the Asia-Pacific region and Korea, where Aptos has gained significant traction. It will also open up new revenue streams, contributing to overall revenue growth.
To support the deployment, Aptos will introduce an incentive program, offering up to 2 million APT in liquidity mining and rewards.