{"id":102472,"date":"2024-12-19T17:35:50","date_gmt":"2024-12-19T21:35:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=102472"},"modified":"2024-12-19T17:37:41","modified_gmt":"2024-12-19T21:37:41","slug":"aave-chan-initiates-proposal-to-deploy-aave-v3-on-sonic","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/aave-chan-initiates-proposal-to-deploy-aave-v3-on-sonic\/","title":{"rendered":"Aave-Chan Initiates Proposal to Deploy Aave v3 on Sonic"},"content":{"rendered":"\n

Aave Chan Initiative, a service provider and Aave DAO<\/a> delegate has proposed deploying Aave v3 on Sonic on the crypto lender's governance forum.<\/p>\n\n\n\n

\"Aave-Chan
Aave-Chan Initiates Proposal to Deploy Aave v3 on Sonic<\/figcaption><\/figure>\n\n\n\n

\u00a0On December 18, Sonic Labs declared that its layer-1 Ethereum Virtual Machine-compatible blockchain, Sonic, would go live on the mainnet. <\/p>\n\n\n\n

In order to integrate Aave v3, which now has a total value locked\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> of over $22 billion, to the new L1 blockchain, the new governance plan is looking for community approval. <\/p>\n\n\n\n

The proposal's author, ACI, stated that “this Temp Check seeks the community's input on the deployment of Aave V3 on Sonic Mainnet.” <\/p>\n\n\n\n

Up to 50 million native Sonic tokens S, $15 million in funding, migration incentives, and a supply of $20 million USDC have all been pledged by the Sonic Foundation. <\/p>\n\n\n\n

After the temporary review, consensus will move the proposal to the snapshot stage, followed by the Aave Improvement Proposal and Aave Request for Comment. <\/p>\n\n\n\n

Following the ARFC and AIP phases, there is a vote that will result in deployment and final confirmation. <\/p>\n\n\n\n

The native token S<\/a>, quicker finality, and a fee monetization mechanism are all part of Sonic's mainnet debut. In the proposal, Aave-Chan points out that this feature might be a fantastic way for Aave to make extra money.\u00a0The proposal states in part:<\/p>\n\n\n\n

\n

Given the impressive history of the team building Sonic, and the innovations it promises, it represents a strong candidate for deployment of Aave V3. In addition, the fee monetization for apps has potential to be an additional income source for Aave,” <\/p>\n<\/blockquote>\n\n\n\n

Holders of Fantom tokens can upgrade their FTM to S 1:1 using Sonic Live. Approximately 190.5 million S tokens were made available to qualified community members as part of the L1 network airdrop, which was conducted by the Sonic Labs<\/a> team via a points system. At the time of writing, FTM was trading at about $1.16.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Aave Chan Initiative, a service provider and Aave DAO delegate has proposed deploying Aave v3 on Sonic on the crypto lender’s governance forum. \u00a0On December 18, Sonic Labs declared that its layer-1 Ethereum Virtual Machine-compatible blockchain, Sonic, would go live on the mainnet. In order to integrate Aave v3, which now has a total value […]<\/p>\n","protected":false},"author":43,"featured_media":102473,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[21199,20671,956],"class_list":["post-102472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-aave-dao","tag-aave-v3","tag-token"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/12\/croc_1734643110770.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=102472"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/102473"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=102472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=102472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=102472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}