Aave V3 goes live on ZKSync’s Era mainnet

Aave V3 has been launched on the ZKSync Era mainnet to unlock liquidity and yield generation for users of the zero-knowledge blockchain ecosystem.

Aave Labs said in a blog post that the deployment of Aave (AAVE) V3 on Era will enable the community to leverage advanced ZK technology to provide broader access to decentralized finance.

The integration also means more enterprise use cases within Elastic Chain, a network of independent chains, including aggregations leveraging ZKSync’s technology. Recently, the Aptos Foundation proposed deploying Aave V3 on the Aptos (APT) mainnet.

A gateway to DeFi

New institutional use cases that will be available to users with the deployment will include private networks and custom platforms tailored to specific asset classes, user risk profiles and segments.

The integration also brings GHO, a decentralized overcollateralized stablecoin native to Aave, to users.

According to Stani Kulechov, founder and CEO of Aave Labs, the release of Aave V3 on Era opens up more collaboration and innovation opportunities for both the Aave and ZKsync communities.

“By combining Aave, ZK-proofs, and the unified Elastic Chain ecosystem, we can unlock unprecedented scalability, privacy, and security, expanding the DeFi user base and new enterprise use cases,” Kulechov added.

Chainlink price feeds integrated

Aave V3’s deployment on Era also includes Chainlink (LINK) integration to provide access to reliable price feeds.

Meanwhile, the Aave DAO representative and service provider Aave Chan Initiative will coordinate and redistribute all airdrops from ZKsync through liquidity mining and other incentives.

The Aave DAO has reportedly approved four assets for initial availability on Era, including stablecoins USDT and USDC, Wrapped Ethereum (WETH), and Wrapped stETH (wstETH).