Aave V3 Deployment On Aptos Mainnet Approved, Launch Imminent

Aave V3 Deploys on Aptos Mainnet, Marking First Non-EVM Expansion

The Aave community has overwhelmingly approved the deployment of Aave V3 on the Aptos Mainnet. Initiated by the Aptos Foundation, the proposal received an impressive 99.6% approval rate in a recent community vote.

This approval signals a significant milestone for Aave, as it represents its first venture beyond Ethereum Virtual Machine (EVM)-compatible blockchains. The renowned DeFi lending platform has primarily operated on EVM chains in the past. The move to Aptos, a layer-1 blockchain utilizing the Move programming language, opens a new chapter of expansion and interoperability for the protocol.

Aave Labs has already developed integration code for Aave V3 on Aptos using Move. Rigorous testing on the testnet has paved the way for a seamless transition to the mainnet. The successful deployment will introduce Aave's lending and borrowing services to the Aptos ecosystem, fostering innovation and new DeFi applications.

Aptos' fast-growing ecosystem and high-performance blockchain provide an ideal environment for DeFi protocols. By integrating Aave's established services, the partnership aims to enhance liquidity and attract a wider user base in the Aptos ecosystem.

Market Performance and Financial Metrics

As of recent data, AAVE is trading at $100.42, with a 24-hour trading volume of $94.9 million. The token has experienced a 1.62% increase over the past day and a 4.98% rise over the past week. Coinalyze data indicates a 2.27% growth in AAVE's open interest, currently valued at $55.1 million.

With a circulating supply of 15 million tokens, AAVE's market cap stands at $1.4 billion. These metrics reflect the market's positive response to Aave's expansion plans and overall performance in the DeFi sector.