Decentralized finance (DeFi) lending platform, Aave, is set to launch the third version of its protocol on Ethereum after a successful vote by its DAO (Decentralized Autonomous Organization).
Aave v3 on Ethereum will be launched with support for seven assets: wrapped Bitcoin, wrapped Ether, wrapped staked Ether, USDC, DAI, Chainlink, and Aave.
These assets were proposed by DeFi risk manager Chaos Labs. The Aave DAO voted in favor of Chaos Labs’ risk-off approach for the initial deployment of Aave v3 on Ethereum earlier in January.
The pricing for all assets apart from wrapped Bitcoin and wrapped staked Ether will come directly from a Chainlink feed.
The wrapped staked Ether and wrapped Bitcoin pricing feeds will rely on price adapter smart contracts. Aave v3 launching on Ethereum expands the DeFi protocol’s multi-chain approach.
The protocol has already been launched on six chains: Avalanche, Optimism, Polygon, Fantom, Harmony and Arbitrum.
