Aave launches the third version of its protocol focused on decentralized finance (DeFi). This new update allows users to move their cryptocurrencies more easily between different blockchains with optimal security and at reduced gas costs.
Move your assets more easily on Aave
Aave has just unveiled the launch of the third version of its decentralized finance (DeFi) protocol.
This aims to provide more security and decentralization for users’ capital. With the support of its community, the Aave protocol continues to expand its reach by deploying on more and more networks including Polygon, Fantom, Avalanche, Arbitrum, Optimism, and Harmony.
Protocol users will gain access to Aave V3 through countless new wallet and endpoint integrations like Instadapp, Debank, 1Inch, Paraswap, Zapper, DeFisaver, Zerion and many more.
The third version focuses on the compatibility of cross-chain flows and on the optimization of gas costs. The idea is to facilitate the movement of cryptocurrencies between different blockchains.
“This new version optimizes the flows between the different blockchains and mitigates the risks. The Aave community will continue to develop and further decentralize the ecosystem around the protocol in the future,” said Aave Founder Stani Kulechov.
The other characteristics of the Aave V3
In addition to facilitating the movement of crypto-assets, the new version of Aave brings new features .
First, users will have access to a higher borrowing capacity thanks to the “ E-Mode ”, the objective of which is to extract the maximum from their guarantees.
In addition, assets classified as “ isolated ” by Aave’s governance may be used according to a very specific debt ceiling . This function is intended to limit the risks and exposure associated with its newly listed assets.
On the other hand, gas costs are optimized in order to reduce their costs by 20 to 25%.
“The third version of Aave’s DeFi protocol is poised to accelerate ecosystem growth with its completely revamped user experience. This is an important milestone for one of the most popular liquidity protocols in decentralized finance and it reinforces our mission to bring this new finance to the next hundreds of millions of people,” said Sandeep Nailwal, co-founder by Polygon.