Hassan Maishera
On Wednesday, Aave Labs informed its community members that Token Logic has submitted a proposal to deploy Aave on X Layer. X Layer is the official blockchain of the OKX cryptocurrency exchange.
X Layer is expected to act as both a payment-focused network and a DeFi hub, creating new avenues for user onboarding, real-world adoption, and capital efficiency. By deploying Aave v3 on X Layer, the protocol would position itself as the core liquidity layer for this new ecosystem, benefiting from first-mover advantage and integration with a payment-focused blockchain.
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 $267.50 per token, down 2.7% in the last 24 hours.
