Aave V3 has been launched on the ZKSync Era mainnet to unlock liquidity and generate yield for users of the zero-knowledge blockchain ecosystem.
Aave Labs said in a statement: Blog post The deployment of Aave (AAVE) V3 on Era will see the community leverage advanced ZK technology to benefit from expanded access to decentralized finance..
The integration also means more enterprise use cases within Elastic Chain, a network of independent chains, including pools that leverage ZKSync technology. Recently, the Aptos Foundation proposed deploying Aave V3 on the Aptos mainnet (APT).
Gateway to DeFi
With this deployment, new institutional use cases available to users will include private networks and custom platforms designed for specific asset classes, user risk profiles and segments.
The integration also brings GHO, a decentralized, over-collateralized stablecoin housed on Aave, to users.
According to Stani Kuleshov, Founder and CEO of Aave Labs, the launch of Aave V3 on Era provides the Aave and ZKsync communities with an opportunity for further collaboration and innovation.
“By combining ZK-proofs with the unified Elastic Chain ecosystem, Aave can unlock unprecedented scalability, privacy, and security, expanding the DeFi user base and new enterprise use cases,” Kuleshov added.
Chainlink Price Feeds Integration
The Aave V3 deployment on Era also includes Chainlink (LINK) integration to provide access to reliable price feeds.
Meanwhile, Aave DAO delegate and service provider Aave Chan Initiative will coordinate and redistribute any ZKsync airdrops through liquidity mining and other incentives.
The Aave DAO has reportedly approved four assets to be initially available on Era. These include stablecoins USDT and USDC, Wrapped Ethereum (WETH), and Wrapped stETH (wstETH).