• Aave (AAVE) has deployed its third version (V3) on the Ethereum mainnet.
• V3 offers new risk mitigation features, improved capital efficiency, and decentralized liquidity.
• After V3 was deployed, AAVE’s governance token remained flat.
The decentralized finance (DeFi) lending and borrowing platform Aave (AAVE) has recently made a major milestone in its ongoing development by deploying its third version (V3) of the protocol on the Ethereum mainnet. The upgrade introduces a variety of new features that are sure to make Aave a more attractive option for users looking to maximize their capital efficiency and minimize their risk.
The Aave DAO voted unanimously in favor of the proposal to deploy Aave V3 on Ethereum. The latest version of Aave introduces a suite of new features that promise to make it easier, faster, and more secure for users to stake and borrow assets. One of the major features of Aave V3 is its High-Efficiency Mode, which allows users to increase their capital efficiency when staking or borrowing. The upgrade also focuses on gas optimization and reduces gas costs across all functions by 20-25%.
Additionally, Aave V3 introduces Isolation Mode, which provides an extra layer of security and allows for more assets to be listed as collateral on Aave. This helps to ensure that user funds are kept safe and secure while also expanding the range of assets supported by Aave. Aave calls the latest upgrade the „most significant upgrade to the Aave protocol“ since its launch in January 2017.
After V3 was deployed, AAVE’s governance token remained flat. It’s currently trading at $88.12. As DeFi continues to grow and evolve, Aave’s new upgrade is sure to make it more attractive for users looking for a secure and efficient platform for their financial needs.