The Aptos Foundation has proposed a governance initiative to expand its blockchain capabilities by integrating Aave Protocol V3 onto its mainnet.
Introduced on July 1, this proposal seeks feedback from the Aave community on this potential deployment, which would mark the first time Aave’s open-source liquidity protocol would be used on a non-Ethereum Virtual Machine (EVM) compatible blockchain.
Aptos is a Layer-1 blockchain designed for scalable and secure decentralized application (dApp) development, boasting a transaction capacity of up to 30,000 per second. It uses a unique architecture and virtual machine distinct from EVM.
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Aave is a non-custodial liquidity protocol enabling users to engage as depositors or borrowers. Depositors can earn income by lending to pools, while borrowers can borrow by overcollateralizing or undercollateralizing their loans in these pools.
Aave Labs, the team behind Aave, supports the proposal, highlighting their extensive research into the Aptos ecosystem. They believe the integration could unlock “new and exciting use cases” not possible with EVM-based systems.
The proposal highlights:
Aave Labs has built substantial expertise in the Move programming language and is prepared to proceed with the deployment pending community approval and further development steps.
The collaboration between Aptos and Aave could be a major development for both communities, promising to enhance the functionality and reach of their respective blockchain technologies.
Despite its potential, the Aptos blockchain has faced challenges. In October 2023, a network outage disrupted on-chain transactions for five hours, causing exchanges like Upbit and OKX to temporarily suspend deposits and withdrawals.
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