Aave Community Unanimously Votes to Advance Protocol Deployment on ZKsync
The Aave lending protocol community has unanimously voted in favor of advancing the deployment of Aave on the ZKsync layer 2.
This preliminary vote, with 662,000 favorable votes, marks overwhelming support from the community. The proposal, called AFRC (Aave Formal Request for Comments), was drafted by the Aave Chan initiative and will now proceed to an on-chain final vote for ultimate approval.
Partnership with BGDLabs and Catapulta
The proposed deployment on ZKsync will be carried out in collaboration with service providers BGDLabs and Catapulta. The integration with ZKsync will allow Aave to offer faster and cheaper transactions while benefiting from the security and decentralization of the Ethereum mainnet.
In addition to reduced fees, the benefits of this deployment also include increased market for the Aave GHO stablecoin, as well as improved scalability and interoperability with other networks.
Allocation of ZK Tokens and Reactions
Aave has received an allocation of 8.3 million native ZK tokens from ZKsync’s recent protocol airdrop, making it the highest allocation for a “native project.” This allocation is valued at approximately $1.4 million at current prices.
In response to questions about this large allocation, Marc Zeller, founder of the Aave Chan initiative, explained that this high allocation is due to the anticipation that Aave will become the “number one on ZKsync.” Zeller also announced that governance is currently discussing redistributing 100% of the airdrop to Aave users.
Advantages of Deployment on ZKsync
The deployment on ZKsync is strategic for Aave as it offers several key advantages:
- Reduced transaction fees: Users will benefit from lower-cost transactions, making the protocol more accessible.
- Increased scalability: The deployment will enable handling a larger volume of transactions, improving the overall capacity of the network.
- Enhanced interoperability: Aave will be able to interact more easily with other networks and ecosystems, increasing its reach and utility.
Community Support and Challenges
It is important to note that not all Aave expansion proposals receive the same level of support. For example, a recent proposal for Aave deployment on the Mode layer 2 network failed with 90% of votes against. However, the overwhelming support for deployment on ZKsync demonstrates strong community confidence in this initiative.
The next step for this proposal is the on-chain AIP (Aave Improvement Proposal) vote, where the community will make the final decision regarding deployment.
