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Thursday, July 4, 2024
HomeCryptoThe Aave DAO community supports the proposal to deploy Aave on ZKsync

The Aave DAO community supports the proposal to deploy Aave on ZKsync

In recent developments related to the Aave lending protocol, the community has unanimously supported the proposal to deploy Aave on the Ethereum Layer 2 ZKsync network. This is a strategic effort to improve transaction performance and reduce costs while maintaining the security and decentralization of the Ethereum mainnet.

The AFRC (Aave Formal Request for Comments) proposal, initiated by the Aave Chan Initiative, received support from the community with 662,000 ‘Yes’ votes. This shows strong support for integrating Aave with ZKsync.

Source: snapshot.org

Deployment on ZKsync will be done through partners BGDLabs and Catapulta, leveraging ZKsync’s Layer 2 scaling solution. Mentioned benefits include lower transaction costs, expanded market opportunities for Aave’s GHO stablecoin, and better scalability and interoperability.

Aave received a significant allocation of 8.3 million ZK tokens from the recent ZKsync airdrop, despite not yet deploying it on-chain. This allocation, valued at approximately $1.4 million, is a testament to Aave’s strategic position and potential impact on ZKsync.

Governance discussions are still ongoing regarding the distribution of these ZK tokens to Aave users, demonstrating transparency and community participation in decision-making.

In contrast, a recent AFRC vote to deploy Aave on another Ethereum Layer 2 network, Mode, failed with 90% opposition, highlighting the community’s selective and cautious approach to scaling. to new networks.

Annie

According to The Block

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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