$AAVE is the largest liquidity protocol in the world. Provide, lend, swap, stake, and much more.
AAVE V3 is now available on Aptos. This is the first implementation of Aave on a non-EVM blockchain, after more than 5 years operating exclusively on Ethereum and EVM-compatible networks.
Bringing Aave V3 to Aptos was not an easy task. As Aptos is not an EVM-compatible chain, a complete rewrite of Aave's codebase in the Move programming language was necessary, along with the reconstruction of the Aave Labs interface and the adaptation of the Aave protocol and its business logic to Aptos VM.
Collaboration with Chainlink was crucial for the deployment of the Aptos test network. Together with the Aptos Foundation, we worked with the Chainlink team on production-ready price feeds for Aave V3 on Aptos. The process involved security researchers from the beginning, allowing the team to nurture a security-first approach, which, as always, is central to Aave's development.
The deployment has been rigorously verified through various audits, a mainnet CTF competition by Cantina, and has an active reward of $500,000 for GHO bugs.
Market details: The initial asset list for the Aptos market includes APT, sUSDe, USDT, and USDC. Lending and borrowing limits will be gradually increased to accommodate demand. This integration was implemented by Aave Labs on behalf of the Aave DAO, with risk analysis conducted by Chaos Labs and Llama Risk. Chainlink will provide secure and reliable price feeds.
As the market matures, new assets may be added and users can expect higher lending and borrowing limits. These changes can be tracked in the governance proposal.
Getting started on Aptos:
Aptos is a Layer 1 blockchain designed to support global communication at scale, with the goal of driving widespread adoption of Web 3.0. Aptos has a TVL of over $1 billion and supports up to 30,000 transactions per second with ultra-low transaction fees and finality in less than one second. Its ecosystem includes applications that cover use cases in finance, social networks, gaming, and AdTech (including loyalty, commerce, and advertising).
To use Aave on Aptos, you will need a wallet compatible with the network, with Petra being the most popular. Access PETRA and click on "Add to Browser" to install the browser extension or download the mobile app.
Petra offers various configuration options, including private key creation, social login through Google and Apple, and hardware wallet integration with Ledger devices. After setting up Petra, you can connect assets to Aptos through one of the cross-chain bridges.
Source: #AAVE