Aave V3 has launched on the ZKSync Era mainnet to unlock liquidity and yield generation for users of the zero-knowledge-powered blockchain ecosystem.
Aave Labs stated in a post, that with the deployment of Aave V3 to Era the community will be able to leverage advanced ZK technologies to benefit from increased access to decentralized financing.
Integration means that there are more institutional uses within the Elastic Chain. This is a network consisting of standalone chains. It also includes rollups which use ZKSync technology. Recenty, the Aptos Foundation suggested the deployment Aave V3 to the Aptos mainnet.
DeFi
Users will have access to new institutional use-cases, including private networks, custom platforms, and asset classes, risk profiles and segments.
Users can also access GHO, Aave’s native overcollateralized decentralized stablecoin.
Stani Kulechov is the founder and CEO of Aave Labs. According to him, launching Aave V3 in Era will allow both Aave as well as ZKsync users to collaborate and innovate.
Kulechov said that by combining ZK proofs with the Elastic Chain ecosystem Aave could unlock unprecedented scalability and privacy. This would expand the DeFi userbase and create new institutional use cases.
Chainlink price feeds are integrated
Aave V3 deployment on Era includes integration of Chainlink for reliable price feeds.
Aave Chan Initiative, a delegate of Aave DAO and a service provider, will redistribute airdrops by ZKsync via liquidity mining and other incentives.
According to reports, the Aave DAO approved four assets as initial access on Era. The stablecoins USDT, USDC as well as Wrapped Ethereum ( WETH) and Wrapped StETH are included.
