Aave V3 launches on Era mainnet with zkSync technology

Aave, a prominent decentralized finance (DeFi) protocol, has officially launched Aave V3 on the Era Mainnet, powered by ZKsync (CRYPTO:ZK) technology.

This release represents a significant advancement for both the Aave and ZKsync communities, promising enhanced liquidity and new institutional opportunities.

The integration of ZKsync’s Layer 2 scaling solution brings several key benefits to Aave V3.

ZKsync’s zero-knowledge technology ensures low-cost transactions and robust security by utilizing cryptographic validity proofs on the Ethereum network.

This combination allows for efficient and secure operations, crucial for expanding the DeFi ecosystem.

Aave Labs’ Founder and CEO, Stani Kulechov, highlighted the importance of this integration, noting that it will drive scalability, privacy, and security.

The deployment on the Era Mainnet is expected to increase Aave’s user base and attract institutional interest, marking a new phase in the protocol’s development.

Alex Gluchowski, Co-Inventor of ZKsync, emphasized that the partnership is essential for both retail and institutional users, providing a secure entry point into the digital asset ecosystem.

The integration is a testament to ZKsync’s commitment to advancing scaling solutions using zero-knowledge technology.

Chainlink Labs’ Chief Business Officer, Johann Eid, also acknowledged the significance of the launch.

He noted that the combination of Aave’s foundational DeFi protocol with ZKsync’s advanced technology is a major step forward for the industry.

Chainlink’s price feeds will play a crucial role in ensuring the reliability and accessibility of market data for Aave V3.

The deployment of Aave V3 on Era Mainnet is set to facilitate the development of privacy-focused DeFi applications.

These applications will leverage Aave’s liquidity, flexibility, and risk management to address the growing demand for privacy in DeFi.

Additionally, the deployment is expected to unlock new use cases for institutional finance, including private networks and tailored asset classes.

Following a thorough technical evaluation by BGD Labs and risk analysis by Chaos Labs, Aave DAO has approved the initial assets for the Era Mainnet.

The Aave DAO plans to redistribute any airdrops from the ZKsync ecosystem through liquidity mining and other initiatives.

The Aave Chan Initiative (ACI) will oversee these efforts, coordinating liquidity campaigns on the ZKsync Aave V3 deployment.