In Brief:
- DeFi protocol Aave rolled out its testnet version of version 3 across seven platforms.
- The new version will provide greater capital efficiencies and enhance the security of features.
- The protocol also revealed a bug bounty program and funding for project developers.
One of the leading DeFi protocols, Aave announced the testnet rollout of its third generation up-gradation entitled Aave V3.
Aave V3 will allow the protocol to be placed among the “most advanced, secure, and efficient DeFi protocols across the ecosystem” by enhancing capital efficiencies and improving security measures for investors. Also, cross-chain capability for the Aave V3 will help the protocol to accumulate a large number of transactions across different blockchains.
Currently, the protocol is live across the seven testnet platforms including Ethereum, Rinkeby, Fantom Testnet, Harmony Testnet, Arbitrum Rinkeby, Polygon Mumbai, Optimism Kovan, and Avalanche Fuji.
To ensure the security of tokens, the Aave protocol has delivered a code to security firms such as Trail of Bits, Openzappelin, abdk.consulting, Sigp_io, Pek for auditing purposes and verified by Certora.
The Protocol also disclosed an open-source code link directed on GitHub, where developers who wish to build the platform on Aave can modify the code and expand the Aave ecosystem. The company will also provide funds to those who want to develop their crypto-oriented projects on Aave.
The developer community can also help Aave V3 to identify bugs by participating in a bug bounty program for the next 30 days.
In the final thread of tweets, the protocol attached Technical Paper where it discussed different aspects of the V3 and its advantages over other competitors.
Yet the Aave did not reveal the date of the actual rollout on the mainnet.
Aave is indulging its team to grow the ecosystem and facilitate emerging DeFi based projects in a more secure manner. Recently, Aave launched its permissioned DeFi lending and liquidity platform, Aave Arc.
