The ZKSync Era mainnet now supports Aave V3 to provide liquidity and yield for zero-knowledge blockchain ecosystem users.
In a blog post, Aave Labs stated that with the launch of Aave V3 on Era, the community could take advantage of cutting-edge ZK technology to gain more access to decentralized finance.
Additional institutional use cases, such as rollups that utilize ZKSync’s technology, will result from integration inside the Elastic Chain, a network of independent chains.
The Aptos Foundation recently suggested implementing Aave V3 on the Aptos mainnet. Users can access additional institutional use cases with the deployment, such as private networks and customized platforms made for certain asset classes, user risk profiles, and market sectors.
Users may now access GHO, a decentralized overcollateralized stablecoin that is native to Aave, thanks to the integration.
The release of Aave V3 on Era, in the opinion of Aave Labs founder and CEO Stani Kulechov, presents a chance for additional innovation and cooperation between the Aave and ZKsync communities. Kulechov added:
By combining ZK-proofs and the unified Elastic Chain ecosystem, Aave can unlock unprecedented scalability, privacy, and security, expanding the DeFi user base and new institutional use cases”
Chainlink Price Feeds Integrated
Chainlink has also been included in Aave V3’s deployment on Era to provide access to dependable price feeds.
Any airdrops from ZKsync will be coordinated and redistributed by Aave Chan Initiative, a service provider and Aave DAO delegate, using liquidity mining and other incentives.
The Aave DAO allegedly approves four assets for the first accessible on Era. These consist of Wrapped Ethereum (WETH), Wrapped stETH, and the stablecoins USDT and USDC.
