DeFi Lender Aave Launches On Ethereum Network Version 3
Aave, a decentralized lending and borrowing system, has launched its third iteration on the Ethereum network in response to unanimity in favor of a governance proposal. Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days. The Aave V3 upgrade will put a special emphasis on reducing user risk and enhancing capital efficiency (High Efficiency Mode) when staking or borrowing correlated assets like stablecoins and liquid staking derivates (LSDs). Liquid staking derivatives are contracts for derivative products that let consumers keep an asset’s liquidity while staking it in exchange for a payout. According to DeFiLlama, the Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days.
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