AAVE V3 has been launched on Celo, so Defi access has been extended to Celo’s mobile users and open the platform for wider user growth.
The latest version of the Lending and Leen Protocol Aave (Aave) V3 simply has launched on Celo, after the overwhelming Approval by the community of Aave.
With this integration, Celo (CELO) users can now borrow, borrow and earn their captured assets. In particular, the implementation of Celo, Tether (USDT) and USD Coin (USDC) supports collateral. It will also support CUSD and CEUR for borrowing.
“Celo is built to provide individuals and communities worldwide with accessible, efficient financial tools, and Aave’s launch is an important step forward in delivering this mission,” said Isha Varshney, head of the Celo Foundation ecosystem.
For Aave, the integration with Celo has the potential to bring in new users, especially mobile-first retail users, so that Celo is mainly suitable for mobile public.
“This deployment of Aave on Celo may bring a large community of new people to the Aave ecosystem, which reaches mobile-first users in rising markets, connect real-world assets with Defi and the use of stablecoins for simple transactions,” said a founder of a founder Stani Kulechov.
Aave V3 was launched in March 2022. It went live on the Ethereum (ETH) Mainstje in January 2023.
Despite the announcement, both CELO and AAVE with a 0.25% and 1% decrease respectively, in accordance with the wider market, because the rates are still on industry.
