The post Aave Labs Launches Aave V3 on Era Mainnet appeared on BitcoinEthereumNews.com.

Aave Labs has officially launched Aave V3 on the Era Mainnet, marking a significant advancement in decentralized finance (DeFi). This new version of Aave uses zkSync technology to enhance security, privacy, and scalability. The announcement was made through Aave’s official X account. As stated in the blog post, the Aave V3 includes zkSync’s zero-knowledge (ZK), which can provide cheap transaction fees and high security through Ethereum proofs. Chainlink will also assist in delivering trustworthy and protected price feeds. Stani Kulechov, founder and CEO of Aave Labs, also pointed out the significance of this integration and the fact that it would be mutually beneficial to both the Aave and zkSync ecosystems. He mentioned that the integration of the ZK-proofs and the Elastic Chain ecosystem will enhance scalability, privacy, and security, thereby extending the DeFi adoption and opening new institutional applications. The Co-Inventor of zkSync, Alex Gluchowski, thanked Aave for its contribution to DeFi and revealed enthusiasm over the improvements arising from zkSync’s Elastic Chain. Johann Eid, the CBO at Chainlink Labs, expanded on these benefits regarding DeFi scalability and institutional adoption. He pointed out that deploying Aave V3 on Era Mainnet is a giant leap for the industry and that Chainlink Price Feeds will enable accurate market data. Aave DAO Approves New Assets for Era Mainnet, Plans Airdrop Redistribution The zkRollup protocol being built by zkSync enables Layer 2 scaling and results in the faster processing of transactions at a relatively lower cost while remaining secure. Aave includes enhancing user experience and traffic on the platform by adding Aave as a partner. It will also open up possibilities for private DeFi applications and future institutional applications such as GHO, Aave’s native stablecoin, and future products. The native governance token of Aave DAO has given its green light to several assets for use on…

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Filed under: News - @ August 23, 2024 5:20 am