DeFi protocol Aave V3 goes live on ethereum mainnet
Aave has announced the successful launch of Aave V3 on the ethereum mainnet. The latest iteration of the DeFi protocol comes with several improvements, including gas fee optimization and more.
Aave V3 launches on the ethereum mainnet
Following strong backing and support from members of the Aave community, the development team has successfully integrated the third iteration of the decentralized finance (DeFi) protocol, dubbed Aave V3, on the ethereum mainnet.
Per a Twitter thread by Stani Kulechov, Aave founder and CEO, Aave V3 comes with several improvements and features, including gas optimization (reduces gas cost by 20 to 25%), a high-efficiency mode for increased capital efficiency, and more.
To make Aave V3 as hack-proof as possible, the team revealed last October that it had spent about $1.6 million on audit operations for the platform between 2020 and 2022.
At the time of filing this report, Aave protocol is the world’s 4th-largest DeFi ecosystem, with $4.56 billion in total value locked (TVL), only dwarfed by Lido (TVL $8.03 billion), MakerDAO ($7.15 billion) and Curve ($4.72 billion), according to Defi Llama.