Aave, a decentralized finance (Defi) powerhouse with more than $ 20 billion in total value locked (TVL) on more than a dozen block chains, will be launched on APTOS after a management proposal to approve the integration that Quorum achieved, founder Stani Kulechov on Monday.
Voting results
According to the results, 393,000 Aave -Tokens supported the launch of Aave on Aptos, with none against it. The expansion marks the first time that the credit protocol giant has been working on a non-Ethereum virtual machine (EVM) blockchain.
“Include the aptos market [the Aave] Dao will use the high transit of APTOS, low transaction costs and the security functions of the Move programming language to improve Aave’s protocol performance and to broaden the user file, ”is the proposal.
The APTOS version of AAVE V3 has already been implemented to test network, with the help of code written in Move, a programming language that was originally developed by Meta.
The implementation was handled by a laborator and follows the Aave 2030 route map of the project, which wants to further expand the protocol outside the Ethereum-compatible networks. The first phase supports indigenous aptos (APT), USD Coin (USDC), Tether (USDT) and Ethena Stusted (Susde), according to the integration plans.
Yet some in the community have expressed their concern. Because this is the first non-EVM implementation of Aave, a bug or exploit could undermine the confidence in the protocol on all chains, not just aptos, wrote one X user, 0xobsessessed.
APTOS has currently locked more than $ 970 million in total value, making it the 12th largest chain because of that statistics, according to Defillama data. APTOS Labs was launched in 2022 and collected a total of $ 400 million, equally distributed over a seed round and a Serie A. The ecosystem has assured financing from Andreessen Horowitz, Apollo Global Management and Franklin Templeton, among other things.
