Aave Votes to Deploy on Ethereum Layer-2 Solution zkSync
Matter Lab's proposal to deploy Aave on the Testnet for its Ethereum scaler zKSync has been approved.
Aave community members approved Matter Lab's proposal to deploy the decentralized lending protocol Aave on its Ethereum scaling product zkSync.
Most voters favor the proposal while a mere 0.02% abstained more than 501,000 Aave governance tokens (AAVE) were used in the voting process.
The approved proposal is to deploy Aave to zkSync Testnet for Mainnet deployment Matter Labs would need to propose a new vote.
The proposal for Aave to deploy on zkSync 2. o passed and we're excited to share what the integration of their open-source liquidity protocol will mean for our ecosystem tweeted.
The mission continues. Earlier today, the proposal for Aave to deploy on zkSync 2.0 passed, and we’re excited to share what the integration of their open-sourced liquidity protocol will mean for our ecosystem. #jointhemissionhttps://t.co/gcyAI3tTHZ— zkSync (@zksync) November 2, 2022
zkSync's team has already verified Aave's open-source smart contract and their possible integration to their rollup during proposal creation a rollup is one of the many methods to scale Ethereum bundling different transactions off-chain to ease congestion on the number two blockchain.
According to Stani Kulechov Aave's founder and CEO Deploying Aave V3 on zkSync is essential to ensuring the safety and scalability of DeFi protocols which will result in long-term industry adoption "zkSync will further Aave's expansion cross-chain reinforcing Aave's place as the top liquidity market."
Aave's total value locked (TVL) stands at $5.32 billion from DefitDefiLlama, and is the fourth largest DeFi protocol.
zkSync has also onboarded DeFi behemoths including MakerDAO Uniswap and Sushiswap to its test in February 2022.
The Uniswap community voted to deploy on zkSync with 0% of voters voting against the proposal.