In a recent tweet, Aave shared about bringing its decentralized liquidity protocol Aave V3 to Ethereum layer-2 scaling platform, MetisDAO, to expand its DeFi offerings. Metis users can now access Aave’s borrowing and lending services with improved risk management and gas optimization.
Aave’s token-holders overwhelmingly voted in favor of launching version 3 of their lending and borrowing protocol on the Metis Network with 100% in favor when voting closed on May 5.
Metis highlighted the benefits for its users with the deployment of Aave’s protocol on its Ethereum layer-2 scaling platform. These include better risk management with supply and borrowing limitations, and segregated borrowing to protect against market contagion, as well as the possibility to borrow assets with less collateral thanks to Aave’s “high efficiency” mode.
Aave will increase the pool of collateral assets, reduce transaction fees, and provide access to an increased range of DeFi solutions through its “isolation” mode, cross-chain portals, and gas optimization features.
Aave is now a vital part of the DeFi ecosystem, which has a total value of $5.5 billion locked in the protocol. The third version of the platform has been deployed on many other Ethereum layer-2 protocols, including Avalanche AVAX, Polygon, Optimism (OP), and Arbitrum (ARB), expanding the platform’s scope.
Aave’s token-holders overwhelmingly voted in favor of launching version 3 of their lending and borrowing protocol on the zkEVM, with more than 99% in favor when voting closed on April 16. While Aave has yet to deploy on zkSync Era, it is making strides in scaling infrastructure.
