- Aave’s proposition to deploy its V3 on zkSync Era Mainnet passes the temperature check.
- Over 99% of the crypto lending DEX voted in support of the proposal.
- The proposal cites the desirable benefits of launching on zkSync.
Crypto lending DEX (Decentralised Exchange) may launch its V3 on zkSync Era Mainnet, considering the positive votes its token holders submitted in favor of the proposal.
The proposal was created on March 26 and suggested that launching the crypto firm’s third version on zkSync would broaden the company’s reach and connect with the growing zkEVM (zero-knowledge Ethereum Virtual Machine).
The voting deadline was on April 16. According to the results, 99.78% of the votes favored launching the V3 on the zkSync Era.
Why the zkSync Era?
The zkSync protocol is a zero-knowledge rollup that offers scalable and inexpensive transactions over the Ethereum network using cryptographic validity proofs.
It was intended for the ‘zkSync Era’ to resemble Ethereum but with reduced fees. It provided consumers with a range of DeFi platforms when it first launched. The crypto lending company may have the potential to combine with the Aave and zkSync communities by launching on Era.
By attracting more customers to DeFi and cementing the company as the leading borrowing platform within the expanding zk blockchain, zkSync “has the potential to benefit the Aave ecosystem.”
Aave also mentioned that zkSync would also find its launch on its platform advantageous, and although there were over 99% votes in support of the launch, 0.2% voted against the proposal, while 0.02% abstained from voting.
Aave stated that its community had once voted to deploy the V3 codebase on zkSync’s testnet, which was validated by an off-chain vote.
According to the proposal, the recently passed temperature check would allow Aave governance to launch the Aave V3 on the zkSync Era Mainnet. It would restrict it to digital assets like USDC and ETH, with suggested risk parameters listed in the blog.
Uniswap launches on its V3 on zkEVM
The crypto lending DEX is not the only crypto firm to launch on the zkEVM platform, as Uniswap also announced its launch on the Polygon zkEVM following the unanimous voting of its token holders.
Over 40 million votes were counted in favor of deploying the Uniswap V3 on Polygon zkEVM. The author of the proposal announced that launching on the platform was done at the right moment as the partnership between Polygon and Uniswap would be highly profitable.
Conclusion
Launching on the zkSync is set to expand Aave’s growth cross-chain further and secure its position as one of the top liquidity markets. Successfully voting the temperature check is the first step to deploying the Aave V3 codebase on zkSync Era Mainnet, providing critical features like developing smart contracts.
