Hassan Maishera
On Wednesday, Aave Labs announced via X that Aave is live on Mantle in collaboration with Bybit. Mantle Network is an EVM-compatible scaling solution for Ethereum built as a ZK Validity Rollup.
The initial list of assets for this market includes WETH, WMNT, USD₮, USDC, USDe, sUSDe, FBTC, syrupUSDT, wrsETH, and GHO.
Soon, Mantle will allocate 8 million $MNT to incentivize lending and borrowing activity.
The Aave DAO, through the Aave Liquidity Committee (ALC), will contribute 1.5 million GHO to support GHO liquidity on Mantle.
The market was deployed by bgdlabs on behalf of the Aave DAO, with risk analysis completed by Chaos Labs and LlamaRisk, and additional support from TokenLogic. Chainlink will provide secure and reliable price feeds.
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 $108.96 per token, up 0.2% in the last 24 hours.
