Aave views BNB Chain, Starknet, and Polygon for expansion zkEVM


The Aave community is actively pursuing opportunities to expand its presence across multiple blockchain networks, highlighting the protocol’s scalability.

Aave, the market champion in DeFi lending, is actively pursuing expansion into other blockchain ecosystems.

Voting for the deployment of Aave V3 on Starknet began on Monday and will end on April 11. The proposal describes a two-stage approach for integrating Aave and Starknet. The first stage, which focused on building a connection between Ethereum and Starknet, has already been well-received by the community. The proposal aims to conclude the second segment by implementing the Aave protocol in its entirety on Starknet.

The accepted proposal recommended restricting asset inflows and instituting conservative risk parameters, enabling development and risk service providers to conduct a comprehensive analysis of the zkEVM network.

Polygon zkEVM and Starknet are zero-knowledge rollup networks that conduct off-chain computations on a secondary layer to facilitate faster, more cost-effective transactions while maintaining a strong emphasis on security.

Aave V3 is the third main version of the decentralized and non-custodial Aave protocol for the liquidity market. Aave enables users to lend, borrow, and earn interest on a variety of cryptocurrencies, including stablecoins and other tokens. The community governs the protocol via the AAVE token, which is used to vote on proposals and revisions.

It implements more sophisticated risk management tools and parameters to safeguard users and the protocol more effectively.

Also Read: The Founder of CryptoLaw Explains Why XRP and ETH Are Not Securities

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