Outside Source
Aave V3 has launched on the ZKSync Era mainnet to unlock liquidity and yield generation for users of the zero-knowledge-powered blockchain ecosystem.
Aave Labs said in a blog post that the deployment of Aave (AAVE) V3 on Era will see the community leverage advanced ZK technology to benefit from expanded access to decentralized finance.
Integration also means more institutional use cases within the Elastic Chain, a network of standalone chains, including rollups that tap into ZKSync’s technology. Recently, the Aptos Foundation proposed the deployment of Aave V3 on the Aptos (APT) mainnet.
A gateway to DeFi
With the deployment, new institutional use cases that will be available to users include private networks and custom platforms tailored for given asset classes, user risk profiles, and segments.
The integration also brings GHO, a decentralized overcollateralized stablecoin native to Aave, to users.
According to Stani Kulechov, founder and chief executive officer of Aave Labs, the launch of Aave V3 on Era offers both Aave and ZKsync communities an opportunity for further collaboration and innovation.
“By combining ZK-proofs and the unified Elastic Chain ecosystem, Aave can unlock unprecedented scalability, privacy, and security, expanding the DeFi user base and new institutional use cases,” Kulechov added.
Chainlink price feeds integrated
Aave V3’s deployment on Era also includes the integration of Chainlink (LINK) to offer access to reliable price feeds.
Meanwhile, Aave DAO delegate and service provider Aave Chan Initiative will coordinate and redistribute any airdrops from ZKsync through liquidity mining and other incentives.
The Aave DAO has reportedly approved four assets for initial accessibility on Era. These include the stablecoins USDT and USDC, Wrapped Ethereum (WETH), and Wrapped stETH (wstETH).
This article first appeared at crypto.news
