- Aave V3 is set to deploy on Polygon zkEVM.
- The proposal for the protocol to deploy on the Ethereum Layer-2 passed with an overwhelming majority.
- Developers will initially deploy an MVP version of the protocol on the network.
With this adoption showing no signs of slowing, the ZK-powered Ethereum Layer-2 is now set to play host to one of the oldest and largest decentralized crypto lending platforms.
Aave To Deploy on Polygon zkEVM
The development follows the completion of a community vote on Tuesday, September 26, in favor of deploying the protocol on the Ethereum Layer-2. The poll ended with an overwhelming 99.99% in favor of the protocol deployment.
The overwhelming majority vote comes as no surprise, as a temperature check vote for Aave to deploy on Polygon zkEVM had passed with a similar conviction in March 2023.
Per the proposal, developers will initially launch a minimum viable product (MVP) version of Aave on Polygon zkEVM with three supported collateral assets, WETH, WMATIC, and USDC, with the latter as the only borrowable asset.
At the time of writing, Aave boasts a TVL of about $2.4 billion across nine chains, including Ethereum and the Polygon Proof-of-Stake (PoS) chain, according to Defi Llama data.
On the Flipside
- The proposal does not specify a deployment date.
- The deployment on Polygon zkEVM will initially support only a fraction of the assets available on networks like Ethereum and Polygon.
Why This Matters
Aave is one of the largest and most recognized decentralized crypto lending platforms. The move to deploy on Polygon zkEVM will likely bring further attention and the inflow of more capital to the protocol.
Read this to learn more about Polygon zkEVM’s steady growth:
Polygon zkEVM Hits 400K Unique Addresses Despite Dwindling Activity
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