Aave V3 now live on Metis

Aave V3’s launch on Metis follows a group vote that went live earlier this month.
According to the Metis workforce, there are numerous methods through which the Aave V3 integration will profit ecosystem customers.
The DeFi protocol’s V3 can also be live on Avalanche, Polygon, Optimism and Arbitrum.

Aave, a decentralized liquidity protocol, has deployed on the Ethereum layer-2 scaling platform Metis, providing a spread of decentralized finance (DeFi) options and merchandise to its ecosystem.

The launch on the Metis Layer-2 comes after a group proposal for the zero-knowledge (zk) proof EVM, which allows Aave governance to activate the Aave V3 Metis pool by finishing the preliminary setup and itemizing WETH, USDC, USDT, DAI, and METIS.

“The integration of Aave Protocol V3 brings enhanced capital efficiency with valuable new security and risk mitigation features,” Metis co-founder Kevin Liu stated.

Capital effectivity for customers

V3 integration affords quite a few advantages to ecosystem customers, with community velocity and safety enhanced. Users may even make the most of options akin to lending and borrowing of belongings with much less collateral. 

This deployment will allow environment friendly capital markets in Metis, a key element for constructing and sustaining a Web3 Economy.

Users and builders will be capable of get pleasure from DeFi composability, fostering a extra various, full and collaborative ecosystem💚

— Metis 🌿 (@MetisDAO) May 8, 2023

The launch of Aave V3 on Metis additionally means DeFi customers can now generate yield simply by way of numerous supported belongings at the same time as they faucet into enhanced threat administration instruments and diminished transaction charges by gasoline optimization. Overall, the combination brings extra capital effectivity for Metis customers and builders, the latter additionally accessing key instruments for innovating decentralised purposes.

Aave is a extensively used DeFi protocol, boasting over $5.24 billion in whole worth locked (TVL), in response to knowledge from DeFiLlama. 

The protocol’s V3 model deployed on the Ethereum mainnet in January 2023 after profitable launches on numerous Ethereum layer-2 protocols, together with Polygon, Avalanche, Arbitrum, and Optimism.