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Aave Launches on ZKsync-Powered Era Mainnet to Drive DeFi Growth
Summary: Aave has deployed its V3 protocol on the ZKsync-powered Era mainnet, marking a significant step toward expanding liquidity and enhancing decentralized finance (DeFi) scalability. This launch is part of Aave’s broader strategy to integrate with the ZKsync ecosystem, utilizing zero-knowledge proof technology for more efficient and secure transactions. The deployment is expected to bring new ...
Aave has deployed its V3 protocol on the ZKsync-powered Era mainnet, marking a significant step toward expanding liquidity and enhancing decentralized finance (DeFi) scalability. This launch is part of Aave’s broader strategy to integrate with the ZKsync ecosystem, utilizing zero-knowledge proof technology for more efficient and secure transactions. The deployment is expected to bring new yield opportunities and improve the overall user experience within the Elastic Chain ecosystem, a network of chains powered by ZKsync.
The integration aims to unlock new institutional use cases, particularly in privacy-focused DeFi applications. Stani Kulechov, Founder and CEO of Aave Labs, highlighted the potential of combining ZK-proofs with the Elastic Chain ecosystem to offer enhanced privacy, scalability, and security. This could open the door to private networks and customized solutions tailored for specific asset classes and risk profiles, appealing to a broader audience, including institutional players.
Chainlink Labs is providing critical price feeds as part of this integration. Johann Eid, Chief Business Officer at Chainlink Labs, emphasized that this collaboration represents an important milestone for DeFi scalability and could boost institutional adoption. The Aave DAO has approved key assets for the Era mainnet, including USDC, USDT, WETH, and wstETH, ensuring users have access to a variety of token options. The DAO also plans to distribute airdrops from the ZKsync ecosystem via liquidity mining, further incentivizing participation.
ZKsync, a Layer 2 scaling solution for Ethereum, uses ZK-rollup technology to improve transaction throughput while reducing costs. Beyond Aave, other products in the ecosystem are also expanding to ZKsync, including the social media protocol Lens, which is set to migrate from Polygon to ZKsync in Q4, signaling broader adoption of this technology across the Aave ecosystem.
Tags: Aave,DeFi,v3,ZkSync
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