Hassan Maishera
On Thursday, Aave Labs announced via a blog post that Aave V3 is now live on Aptos, marking Aave's first deployment on a non-EVM chain after 5+ years of operating exclusively on Ethereum and EVM-compatible networks.
Since Aptos is not an EVM-compatible chain, it required a complete rewrite of the Aave codebase in the Move programming language, rebuilding of the Aave Labs Interface, as well as retrofitting Aave Protocol and its business logic into the Aptos VM.
Aave Labs and the Aptos Foundation worked with the Chainlink team on production-ready price feeds for Aave V3 on Aptos. The initial list of assets for the Aptos market includes APT, sUSDe, USDT, and USDC. Supply and borrow caps will be slowly increased to accommodate demand. As the market matures, new assets can be added, and users can expect higher supply and borrow caps.
Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain overcollateralized loans by using the liquidity from these pools. AAVE is trading at $302.80 per token, up 1% in the last 24 hours.
Aptos is a scalable layer-1 blockchain based on the Move programming language. APT is the project's native token. APT is down 1.1%, trading at $4.387 per coin.
