Aave's zkSync Proposal Receives Massive Approval from Community
- The Aave community has shown overwhelming support for a proposal to deploy the third version of its lending and borrowing protocol on the zkSync Era Mainnet, with more than 99% of token holders voting in favor
- If the proposal progresses successfully through further stages, it will be submitted for on-chain governance approval, potentially leading to the launch of Aave on the (zkEVM), initially supporting USD Coin and Ether
- The deployment on zkSync is expected to bring benefits such as introducing new users to DeFi and enhancing Aave's position as a leading borrowing platform
Aave community overwhelmingly supports proposal to deploy on zkSync Era Mainnet
The Aave community has given overwhelming support to a proposal to deploy the third version of its lending and borrowing protocol on the zkSync Era Mainnet, as indicated by a recent "temperature check" vote. With more than 99% of Aave token holders voting in favor of the proposal and only 0.02% voting against it, the positive sentiment is evident. The proposal, first pitched on March 26, outlines the plan to launch Aave on the zero-knowledge Ethereum Virtual Machine (zkEVM) with limited support for USD Coin and Ether initially.
If the proposal progresses successfully through the next stages, including further discussion, risk parameter evaluation, and finalization, it will be submitted for on-chain governance approval. The Aave ecosystem is anticipated to gain from the deployment on zkSync in a number of ways, including by introducing new users to decentralized finance (DeFi) and enhancing Aave's status as a leading borrowing platform within the zero-knowledge ecosystem.
Aave's Commitment to Security and Stability of Protocol
It is worth noting that Aave had previously taken steps to enhance its governance procedures following a $60 million short attack in November 2022, which ultimately failed. This indicates the community's commitment to improving the security and stability of the protocol.
The deployment of Aave on zkSync follows the successful passage of a similar governance proposal for the decentralized exchange Uniswap, which is also set to launch on zkEVM via scaling solution provider Polygon. These developments highlight the growing trend of DeFi protocols exploring different scaling solutions to address the scalability challenges of the Ethereum network and provide a better experience for users.
Overall, the resounding support for the proposal to deploy Aave on zkSync reflects the community's confidence in the protocol's future and its commitment to expanding the adoption of DeFi through innovative solutions.
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