Deploying Aave V3 to the zkSync Era Main Network: A Temperature Check Vote by the Aave Community, With a 97.3% Support Rate

04/13/2023 06:41 • Metaverse Matters • 81 views

On April 13th, the snapshot voting page showed that the Aave community initiated a temperature check vote for “Deploying Aave V3 to the zkSync Era main network”. The proposal currently has a support rate of 97.3%, and the vote will expire on April 15th.

The Aave community initiated a temperature check vote to deploy V3 to the zkSync Era main network

Introduction

On April 13th, 2021, the Aave community initiated a temperature check vote for “Deploying Aave V3 to the zkSync Era main network”. The proposal gained an overwhelming support rate of 97.3% within two days, and the vote is set to expire on April 15th. In this article, we will delve deep into what this vote means for the Aave community, the potential benefits of deploying Aave V3 to the zkSync Era main network, and the implications of the vote.

What is Aave V3?

Aave is a decentralized finance (DeFi) protocol that enables users to lend and borrow various cryptocurrencies without an intermediary. Aave has become one of the most popular DeFi protocols with a total value locked (TVL) of over $10 billion at the time of writing. Aave V3 is the next version of the Aave protocol that introduces several new features to improve user experience, including:
– **Collateral Decentralization**: The ability for Aave users to customize their own risk parameters for collateral types.
– **Credit Delegation**: The ability for Aave users to delegate their credit lines to other users, bringing more flexibility to borrowing and lending markets.
– **Gasless Lending/Borrowing**: The ability for users to execute lending and borrowing protocols without worrying about gas fees.

What is zkSync Era?

zkSync is a Layer 2 scaling solution for Ethereum that uses zero-knowledge proofs (ZKPs) to increase transaction throughput and decrease gas fees. The zkSync team claims that zkSync can process up to 2,000 transactions per second, significantly faster than Ethereum’s base layer. The zkSync Era refers to the mainnet launch of zkSync V2, which brings faster transaction confirmations, lower gas fees, and improved scalability to the Ethereum ecosystem.

The Benefits of Deploying Aave V3 to the zkSync Era Main Network

By deploying Aave V3 to the zkSync Era main network, Aave users will benefit from lower gas fees and faster transaction confirmations. The main advantage of deploying Aave V3 to zkSync is that users will be able to interact with the Aave protocol without being vulnerable to the high gas fees and network congestion present on Ethereum’s base layer. This would make Aave more accessible to a wider range of users and increase the protocol’s overall accessibility.

Implications of the Vote

The support rate of 97.3% for deploying Aave V3 to the zkSync Era main network indicates strong support from the Aave community for the proposal. If the vote succeeds, it would signal that the community believes it is in their best interest to deploy Aave V3 to zkSync. However, the temperature check vote is not binding, and the Aave team has yet to announce whether they will follow through with the proposal. Nevertheless, the vote’s high support rate suggests that the Aave team will seriously consider the proposal’s merits.

Conclusion

The Aave community’s temperature check vote for deploying Aave V3 to the zkSync Era main network clearly indicates the community’s strong support for the proposal. The vote’s success could potentially lead to a lower barrier to entry for the Aave protocol and improve the user experience. However, it remains to be seen whether the Aave team will follow through with the proposal or not.

FAQs:

1. What is Aave V3?
Aave V3 is the next version of the Aave protocol that introduces several new features to improve user experience, including collateral decentralization, credit delegation, and gasless lending/borrowing.
2. What is zkSync Era?
zkSync Era refers to the mainnet launch of zkSync V2, which brings faster transaction confirmations, lower gas fees, and improved scalability to the Ethereum ecosystem.
3. What are the benefits of deploying Aave V3 to the zkSync Era main network?
By deploying Aave V3 to the zkSync Era main network, Aave users will benefit from lower gas fees and faster transaction confirmations, making the protocol more accessible to a wider range of users.

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