Monday, June 17, 2024

Aave’s proposal to launch on zkEVM passes ‘temperature check’ vote with a favorable majority

HOT NEWS! Aave’s proposal to launch on zkEVM passes ‘temperature check’ vote. A “temperature check” proposal to deploy the decentralized exchange (DEX) Aave on the zkSync Era Mainnet has passed with overwhelming support from the Aave community which will be closed on April 16. More than 99% of Aave tokenholders had voted in favor of launching the third version of lending and borrowing protocol on the zero-knowledge Ethereum Virtual Machine (zkEVM). Also, according to the proposal first pitched on March 26, the launch will be limited to USD Coin and Ether.

As of now, the temperature check has been indicated as a “positive sentiment,” hence the next steps listed in the proposal will be to proceed to another stage for further discussion, which will be followed by risk parameter evaluation and finalization of the proposal. If the next stages are successful the proposal will be submitted for voting and on-chain governance approval. Only around 0.02% voted against the proposal with a further 0.02% abstaining from voting. According to this proposal, deploying on zkSync can benefit the Aave ecosystem by introducing new users into decentralized finance and cementing Aave as a premier borrowing platform within the zero-knowledge ecosystem.

The Aave community previously voted to deploy the Aave V3 codebase on zkSync’s v2 Testnet, which was approved in another off-chain Vote. Decentralized exchange Uniswap is also set to launch on azkEVM solution from scaling solution provider Polygon after a governance proposal which was also successfully passed. In November 2022, Aave change its governance procedures after it was hit by a $60 million short attack that ultimately failed. If the next stages are successful the proposal will be submitted for voting and on-chain governance approval. Stay tuned for more hot news!

Source

https://cointelegraph.com/news/aave-s-proposal-to-launch-on-zkevm-passes-temperature-check-vote

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