Aave, the decentralized protocol for liquidity, has been implemented on the Ethereum Layer-2 Scaling Platform Metis, a decentralized financial (DeFi). Following a vote by the community earlier in the month, the launch of Aave V3 on Metis features and product range for its ecosystem.
You can also find out more about the Metis team. Aave V3 integration will benefit users of the ecosystem, including increased network speed and enhanced security. Users can now use features such as the lending and borrowing of assets without collateral.
“The integration of Aave Protocol V3 brings enhanced capital efficiency with valuable new security and risk mitigation features,” Metis co-founder Kevin Liu said.
The launch of Aave V3 on the Metis Layer-2 version comes after the community proposal for a proof-of-zero-knowledge EVM (zk), which allows Aave Governance to activate Aave V3 on Metis by completing the initial set-up and listing WETH, USDC, USDT, DAI and METIS.
The integration of the two systems brings about greater capital efficiency. Metis developers have access to key tools that will help them innovate and create decentralised apps.
Aave is widely used and boasts a total value locked of over $5.24 Billion. The protocol’s V3 version deployed on the Ethereum mainnet in January and has since been launched in various Ethereum Layer-2 protocols, including Polygon, Avalanche, Arbitrum and Optimism.
