Aave Protocol V3 Deploys On The Ethereum Mainnet

Twitter icon  •  Published 1 year ago  •  Hassan Maishera

The Aave team announced via a blog post on Friday that Aave Protocol V3 has been deployed on Ethereum Mainnet, Aave’s first and largest market.

The Aave team announced via a blog post on Friday that Aave Protocol V3 has been deployed on Ethereum Mainnet, Aave’s first and largest market. The team explained that V3 is the most significant upgrade to the Aave Protocol to date, and is the result of the Aave community’s relentless pursuit of security, capital efficiency and risk management.

The team further added that users could take advantage of the V3 migration tools to move their assets from Aave V2 to Aave V3.

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 $86.3 per token, up by 1% in the last 24 hours. 

Ethereum is a decentralized network (often referred to as “the world computer”), created by Vitalik Buterin in 2013. Its network consists of an open-source, globally decentralized computing infrastructure, which executes programs called smart contracts. This network is fueled by a cryptocurrency named ether (ETH). ETH is up by more than 2% in the last 24 hours and is currently trading at $1,634 per coin. 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.