WEB3
by BSCN
May 4, 2023
The move will enable Aave to participate in battle-testing and gain a competitive edge in zk rollup, which is widely regarded as the essence of Ethereum scaling.
Aave is now live on Scroll Alpha testnet, according to a May 4 announcement.
The recent event came after the Aave community approved the proposal to deploy Aave on the Scroll testnet. A total of 642K $AAVE voted in favor of the proposal, while 36 $AAVA voted against it.
As per the DeFi protocol, by launching on testnet, Aave can take part in battle-testing and gain a competitive edge in zk rollup. Additionally, many protocols looking to launch on Scroll have requested integration with lending protocols, such as Aave.
Aave believes the Aave community and Scroll's ecosystem are closely aligned: both are working toward a decentralized and trustless financial infrastructure that anyone can access, regardless of merit.
Zk rollups are widely regarded as the essence of Ethereum scaling. With recent breakthroughs in the space, Scroll is positioned to build the next generation of scaling solutions, according to Aave.
“Aave is a uniquely important DeFi lender in the Ethereum ecosystem and pioneers how the ecosystem and user behavior evolves and can continue to do so by benefiting from the explosion of potential use cases that a zk L2 affords,” the Aave team stated in the recent proposal.
However, a community member known as MarcZeller, believes that Aave deploying on the "young" Scroll ecosystem is a "bet" with no guarantee of success. Aave is trading at $70.73, up 4% in 24 hours, according to CoinMarketCap.
Aave is a decentralized crypto lending platform that allows users to borrow and lend crypto. Aave specializes in overcollateralized loans that require users to deposit crypto worth more than their loan amount.
Learn more about Aave:
Latest News
December 21, 2024
Weekly Article Recap: 12/16-12/20
December 20, 2024
Injective and Sonic SVM Partners to Launch the First Cross-Chain AI Agent Platform
December 20, 2024
UK Judge Sentences Craig Wright to One Year in Prison for Contempt of Court
December 20, 2024
SEC Approves Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton
December 18, 2024
Ripple Dollar (RLUSD) Launches with Full Transparency and Regulatory Backing
December 18, 2024
Bitwise Launches Solana Staking ETP in Europe: What to Know
December 18, 2024
Ohio Introduces Bitcoin Reserve Bill to Strengthen State Finances
December 17, 2024
Monad Launches the Monad Foundation to Drive Ecosystem Growth