Aave V3 has launched on the ZKSync Era mainnet to unlock liquidity and yield generation for users of the zero-knowledge-powered blockchain ecosystem. Aave Labs said in a blog post that the deployment of Aave (AAVE) V3 on Era will allow the community to leverage advanced ZK technology to benefit from expanded access to decentralized finance.
Aave Labs announced that this integration will also include more institutional use cases within the Elastic Chain, a network of standalone chains, including rollups based on ZKSync’s technology. Recently, the Aptos Foundation proposed the deployment of Aave V3 on the Aptos (APT) mainnet.
A Gateway to DeFi
The deployment introduces new institutional use cases, such as private networks and custom platforms tailored for specific asset classes, user risk profiles, and segments. The integration also introduces GHO, a decentralized overcollateralized stablecoin native to Aave, to users.
Stani Kulechov, founder and CEO of Aave Labs, stated, "By combining ZK-proofs and the unified Elastic Chain ecosystem, Aave can unlock unprecedented scalability, privacy, and security, expanding the DeFi user base and new institutional use cases."
Chainlink Price Feeds Integrated
Aave V3’s deployment on Era also features the integration of Chainlink (LINK) to provide reliable price feeds. Additionally, Aave DAO delegate and service provider Aave Chan Initiative will coordinate and redistribute any airdrops from ZKSync through liquidity mining and other incentives.
The Aave DAO has approved four assets for initial accessibility on Era: the stablecoins USDT and USDC, Wrapped Ethereum (WETH), and Wrapped stETH (wstETH).
