News

Aave v3 sets to be deployed on Scroll Mainnet

Published

1 year ago

June 1, 2023

In an effort to secure a strategic position in the Scroll ecosystem and the decentralized finance (DeFi) space, Aave v3 has issued a “temp check” proposing deployment on the Scroll mainnet.

This temp check suggests deploying the Aave V3 Minimum Viable Product (MVP) to the Scroll mainnet. If the DAO accepts this proposal, it will establish Aave v3 as one of the first DeFi dApps on the Scroll mainnet, preparing for its launch at the beginning of August 2023.

Scroll is an Ethereum-based zkEVM zkRollup that provides native compatibility with pre-existing Ethereum tools and applications in the most dependable and secure way.

Per the proposal, Aave will play a significant role in the early Scroll ecosystem to establish a strategic presence at an initial stage. Moreover, Aave has over 150 projects slated to go live shortly after the Scroll mainnet’s launch. Scroll zkEVM reports that Aave will be deployed on the mainnet with three collaterals (WETH, USDC, and wstETH) and one borrowable asset (USDC).

“Gauntlet and Chaos Labs have been consulted and If the proposal is approved, more advice on risk factors for the listed assets at the Accounts Receivable Funding Corporation (ARFC) phase will be received.“

In order to limit Aave’s risk and give additional security guarantees, scroll has also staked 500,000 USD in the $Aave token.

In April, the Aave community unanimously approved proposals to deploy the leading lending protocol to a pair of EVM-compatible zk-rollups. Two separate proposals to bring Aave to Polygon’s zkEVM and zkSync Era mainnets effortlessly passed preliminary “temperature check” votes.

While the launch of Scroll Mainnet represents a significant milestone, the proposal to deploy on the Scroll Mainnet signifies a strategic move by Aave v3 to establish a robust presence in the decentralized finance (DeFi) world and ecosystem.