Aave has officially expanded his version 3 -network to the Sonic Minnet, the blockchain platform announced on March 3.
The Aave (AAVE) V3 implements the Sonic (s) network follows a recent management proposal that is aimed at bringing the credit market of the decentralized finance protocol to the network, formerly known as Fantom.
Web3 platform and AAVE employee BGDLABS managed the implementation, while Chaos Labs and Llamarisk performed the risk assessment. According to the Aave team, chains and Oracle Platform Chainlink offers price feeds.
Aave’s Expansion to Sonic
Sonic Labs launched his Layer-1 Minnet in December 2024, in the same month an Aave Dao representative Aave Chan introduced the V3-to-Sonic Governance proposal. The Aave community approved the proposal later, whereby the road was released for the deployment.
Going live on the Sonic Network marks the first expansion of the year of Aave, which further strengthens the presence in the wider Defi Ecosystem. This implementation introduces loan and loan opportunities for sonic users, who can now earn Defi-related stimuli on Aave.
According to an announcement on X, Aave and Sonic Labs offer $ 15 million to S -Tokens and $ 800,000 in Aave -Tokens as stimuli for Early Adopters. Users have access to these opportunities via a first list of supported assets, including USDC, Weth and WS.
Explaining the motivation for using V3 on Sonic, Aave Chain Initiative noted:
“Aave has focused on several promising new L1 and L2 EVM networks and is often one of the largest protocols on these networks. Given the impressive history of the team that builds Sonic, and the innovations it promises, it is a strong candidate for the use of Aave V3. Moreover, the reimbursement for generating income for apps has a potential to be an extra source of income for Aave. “
Co-founder of Sonic Labs Andre Cronje recently posed That Sonic “is the only chain where you are paid for the activity you make.”
Aave has currently locked a total value of more than $ 18.7 billion, with this somewhat decrease in the peak of more than $ 22 billion reached on December 14, 2024.
Since the launch in 2018 on Ethereum, Aave has been expanded on several networks. It is focused on polygoon, arbitrum, optimism and base, as well as BNB chain, avalanche and gnosis chain.
