In a blog post, Aave Labs said that Aave V3 would be launching on the Era network. It will include improved ZK technology to improve access to decentralized finance (DeFi).
This deployment will make it possible for more institutional programs to be used in the Elastic Chain, which is a network of separate chains and rollups that use ZKSync’s technology. The Aptos Foundation has also suggested adding Aave V3 to the mainnet of Aptos.
With the addition of Aave V3, Era will have more institutional uses, such as closed networks and platforms that are tailored to certain asset classes, risk profiles, and user groups. Users will also be able to use GHO, Aave’s decentralized overcollateralized stablecoin, after the launch.
Aave V3 Launches Era
Stani Kulechov, founder and CEO of Aave Labs, said that the launch on Era is a great chance for people in both the Aave and ZKSync groups to work together and come up with new ideas.
Kulechov said:
“By leveraging ZK-proofs and the Elastic Chain ecosystem, Aave can achieve unprecedented scalability, privacy, and security, broadening the DeFi user base and introducing new institutional use cases,”.
Chainlink will be added to the deployment to provide accurate price feeds. Aave DAO delegate and service provider Aave Chan Initiative will also handle and give out any airdrops from ZKSync through liquidity mining and other rewards.
Four assets, USDT, USDC, Wrapped Ethereum (WETH), and Wrapped stETH, have been accepted by the Aave DAO for early access on Era.
