- The release of Aave V3 on Metis follows a community vote earlier this month.
- According to the Metis team, there are various ways Aave V3 integration benefits ecosystem users.
- V3 of the DeFi protocol is also live on Avalanche, Polygon, Optimism and Arbitrum.
Aave, a decentralized liquidity protocol, is deployed on the Ethereum Layer 2 scaling platform Metis, providing various decentralized finance (DeFi) features and products to its ecosystem.
Metis Layer-2 launch completes initial setup, WETH, USDC, USDT, DAI, and Metis.
“Aave Protocol V3 Integration Improves Capital Efficiency with Valuable New Security and Risk Mitigation Capabilitiessaid Metis co-founder Kevin Liu. Said.
Capital efficiency for users
The V3 integration enhances network speed and security, bringing many benefits to ecosystem users. Users can also take advantage of features such as lending and borrowing assets with less collateral.
This deployment will enable efficient capital markets for Metis, a key factor in building and sustaining the Web3 economy.
Users and builders will now be able to enjoy the composability of DeFi, fostering a more diverse and complete collaboration ecosystem 💚
— Metis 🌿 (@MetisDAO) May 8, 2023
Aave V3 launch on Metis empowers DeFi users with enhanced risk management tools to easily generate yields across various supported assets while reducing transaction fees through gas optimization It means that you can Overall, this integration will bring capital efficiencies to Metis users and developers, while the latter will also have access to key tools for innovating decentralized applications.
Aave is a widely used DeFi protocol, boasting over $5.24 billion in total value locked (TVL), according to data from. Defilama.
The V3 version of the protocol was deployed to the Ethereum mainnet in January 2023 after successfully launching on various Ethereum Layer 2 protocols such as Polygon, Avalanche, Arbitrum and Optimism.