Aave Considering Deployment of Version 3 on Neon EVM
The Aave lending protocol is currently reviewing a proposal to deploy version 3 on Neon EVM, a smart contract platform that enables Ethereum dApps on the Solana network. This proposal, made by the Neon Foundation and Aave Chan Initiative, aims to expand Aave’s lending services to the Solana blockchain as a minimal viable product (MVP) initially. The proposal is currently in the “temperature check” phase, allowing Aave community members to provide feedback and opinions.
Limited Introduction of Assets and Conservative Risk Parameters
The proposal suggests introducing three types of collateral (SOL, mSOL, jitoSOL) and one borrowable asset (USDC) to the Solana blockchain. If approved, this deployment would allow Aave to access Solana’s liquidity for its lending services. A testnet version of Aave v3 has already been deployed on Neon EVM’s developer-focused testnet (devnet).
Advancing to the Next Phase
If the proposal receives sufficient preliminary support, it will move forward to the next phase, which includes an on-chain vote for the final decision. Aave v3 is the third major iteration of the Aave protocol, offering decentralized and non-custodial liquidity market solutions for lending and borrowing various crypto assets.
Hot Take: Expanding Aave’s Reach with Neon EVM Integration
The integration of Aave version 3 on Neon EVM opens up new opportunities for expanding Aave’s lending services onto the Solana blockchain. With this deployment, Aave can tap into Solana’s liquidity pool and provide users with more options for lending and borrowing crypto assets. The proposal’s focus on conservative risk parameters ensures a cautious approach to asset introduction, prioritizing stability and security. If successfully implemented, this integration could attract more users and further solidify Aave’s position as a leading decentralized lending protocol in the crypto space.
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