The Aave community is mulling over a proposition to launch its V3 on the Coinbase-backed Layer-2 blockchainย tech solution, Base network.ย
Aave V3 Considers Base Deployment
The next Base network is a Layer-2 blockchainย tech solution backed by the Coinbase cryptocurrency company and is asย ofย now going through a temperature check phase by the Aave community. As per early reports, it is being considered by Aave for the deployment of its V3.ย
The idea was 1st proposed by analytics company Otherย side Cryptocurrency and then brought to the attention of Aaveโs governance forum by Flipsideโs protocol specialist Francis Gowen, who is likewise one of the delegates and contributors of Aave. In his proposition, Gowen highlighted that the integration could result in numerous revenue streams for Aave V3 and open it up to a significantly larger user base.ย
Other than suggesting the protocol, Gowen likewise touched upon the necessity of maintaining danger parameters for assets that would be deployed on Base.
Temperature Check Ongoing
The presently ongoing temperature check phase will allow the community members to experience the platform and provide initial feedback, accordingย to which theย following step of the decision canย potentially be taken. If theย preliminary feedback is positive and garners sufficient preliminary votes, the proposition will be considered for further discussion. These discussions will include danger parameter evaluations, which, if successful, will advance the proposition to an on-chain vote as a final step before deployment.ย
Base Mainnet To Launch After Optimism Upgrade
The Base network project has so far only launched its testnet, which already displayed wholeย lotย of developer activity. The network has been supporting 18,000 developers who deployed 55,000 smart contracts. This signifies a strong growth potential for the mainnet once it is launched thereafter this year.ย
Despiteย theย factย that the Base team has isย still to finalize a launch date for its mainnet, it has been announced that the project has completed its 1st hardfork, Regolith, in testnet. Furthermore, the OP Labs team has likewise completed a project infrastructure review.ย
Theย group has likewise stated that once Optimism completes its June upgrade (Bedrock), Base will be able to move on to its internal and external audits stage to demonstrate testnet stability and then launch the mainnet.ย
Other Interest In Base Network
Nonetheless, Aave is not the only cryptocurrency powerhouse seeingย as a move to Base. A week back, the largest decentralized exchange, Uniswap, likewise revealed that it is seeingย as an expansion to the Base network.ย
