Aave v3 deploys on Aptos testnet

January 7, 2025 at 6:15 pm

Edited by Jayson Derrick

News

Aave has deployed its third-generation lending protocol on the Aptos testnet as part of a 2025 expansion pack.

Aave, the largest lender in decentralized finance, confirmed its test deployment on Aptos in a Jan. 7 X post, marking the project’s first non-EVM deployment.

The development followed an initial temperature check prompted by the Aptos Foundation in July 2024. According to the report, the Aptos Foundation sought community feedback on launching Aave v3 on its mainnet.

Shipping first on the Aptos testnet will allow both teams to conduct trials and stress tests to ensure that Aave v3 is ready for mainnet deployment. If the on-chain rehearsal succeeds, the Aptos Foundation will likely proceed with a governance vote to launch Aave v3 on the Aptos mainnet.

After several months of hard work, Aave Labs is excited to present a working implementation of Aave V3 on the Aptos testnet, a codebase written in Move.

With this update, Aave takes a significant step closer to extending the protocol's reach beyond EVM ecosystems with Aptos. https://t.co/1gaWEMEytO
— Stani (@StaniKulechov) January 7, 2025

Aave, built by Avara, is the biggest DeFi lender, with over $22 billion in user deposits, according to DefiLlama. The protocol was initially launched in 2017 as “ETHLend” on Ethereum (ETH) before CEO Stani Kulechov rebranded it in 2018 and expanded to other blockchains.

Since then, the on-chain lending platform has spread to 11 other networks, including scaling solutions like Base and Polygon.

Kulechov and his team are aiming for a massive 2025 run, teasing a fourth-generation protocol as the lender hit a record $35 billion in total value locked last year. According to a DAO proposal, the team plans to extend its service to six new chains, including Aptos, Botanix Labs’ Spider Chain, Linea, Mantle, and Sonic.