Aave’s Proposal to Launch on zkEVM Passes With Overwhelming Vote
• Aave’s proposal to launch on zkEVM recently passed a “temperate check” with an overwhelming majority.
• The proposal will be limited to USD Coin (USDC) and Ether (ETH).
• Uniswap is also set to launch on the same platform from scaling solution provider Polygon.
Aave Proposal Passes Temperature Check
A proposal to deploy the third version of lending protocol Aave has recently passed a “temperate check” with an overwhelming favorable majority. When voting closed on April 16, over 99% of Aave (AAVE) tokenholders casting ballots had voted in favor of launching the third version of the lending and borrowing protocol on the zero-knowledge Ethereum Virtual Machine (zkEVM).
Limitations Of The Proposal
The deployment will be limited to USD Coin (USDC) and Ether (ETH). If the next stages are successful, the proposal will be submitted for voting and on-chain governance approval. The temperature check indicated a “positive sentiment” towards proceeding further with deploying Aave V3 on zkSync Era Mainnet.
Benefits Of Deploying On Zksync
Deploying on zkSync can benefit the Aave ecosystem by introducing new users into decentralized finance and cementing Aave as a premier borrowing platform within the zero-knowledge ecosystem. In November 2022, Aave changed its governance procedures after it was hit by a $60 million short attack that ultimately failed.
Uniswap Also Set To Launch On Zksync
Decentralized exchange Uniswap is also set to launch on azkEVM solution from scaling solution provider Polygon after a governance proposal was successfully passed. This is another indication that more projects are looking towards zksync as an attractive option for their platforms in terms of scalability and reliability.
Stablecoin Adoption Could Lead To DeFi Growth
Stablecoin adoption could lead to DeFi growth according to Aave founder Stani Kulechov as these coins open up new opportunities for users around the world who wish to access decentralized financial services without having to rely upon traditional banking systems or fiat currencies which may not always be reliable or safe.
