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The Aave neighborhood has spoken, and the outcomes are in. A proposal to launch the decentralized trade (DEX) Aave on the zkSync Period Mainnet has acquired overwhelming assist, with over 99% of AAVE tokenholders casting ballots voting in favor of the transfer.
The proposal, which was first pitched on March 26, outlined plans to launch the third model of the lending and borrowing protocol on the zero-knowledge Ethereum Digital Machine (zkEVM). The launch will initially be restricted to USD Coin (USDC) and Ether (ETH).
The proposal’s success within the “temperature examine” stage implies that the following steps listed within the proposal shall be pursued. This can contain additional dialogue, adopted by threat parameter analysis and the finalization of the proposal. If profitable, the proposal will then be submitted for on-chain governance approval.
Whereas solely round 0.02% voted in opposition to the proposal, and an extra 0.02% abstained from voting, the overwhelming assist from the Aave neighborhood is a big milestone for the undertaking. Deploying on zkSync has the potential to introduce new customers to decentralized finance, in addition to cementing Aave’s place as a premier borrowing platform inside the zero-knowledge ecosystem.
The Aave neighborhood beforehand voted to deploy the Aave V3 codebase on zkSync’s v2 Testnet, which was accredited in one other off-chain vote. With this newest vote, Aave is one other step nearer to deploying on the zkSync Period Mainnet.
Aave just isn’t the one decentralized trade trying to leverage the advantages of zkSync. Uniswap can also be set to launch on the scaling answer from Polygon after a profitable governance proposal was handed.
Aave’s journey so far has not been with out its challenges. In November 2022, the platform modified its governance procedures after it was hit by a $60 million brief assault that finally failed. Nevertheless, the undertaking has emerged from this setback with renewed vigor and dedication, as evidenced by the overwhelming assist for its newest proposal.
Total, the launch of Aave on zkSync has the potential to be a game-changer for the decentralized finance house, and it is going to be fascinating to see how the undertaking progresses within the coming months.
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