Aave Deploys V3 on Era Mainnet, Leveraging ZK-rollup Technology for Enhanced DeFi Transactions
The decentralized lending protocol Aave has reached a significant milestone with the deployment of Aave V3 on the Era mainnet, an infrastructure powered by ZKsync technology.
This strategic integration is part of a broader vision to fully leverage the potential of the Elastic Chain ecosystem, a network of chains focused on scalability, privacy, and transaction security.
Aave’s deployment on Era is supported by Chainlink, which provides the necessary price feeds, and by the Aave DAO, which has approved the integration of multiple assets.
A Strategic Integration for Scalability and Privacy
ZKsync, as a Layer 2 scaling solution for Ethereum, aims to improve the network’s transactional capacity while reducing costs. By leveraging ZK-rollup technology, ZKsync enables developers, businesses, and financial institutions to deploy custom ZK chains, forming the Elastic Chain ecosystem.
The integration of Aave V3 on Era goes beyond a mere technological upgrade; it represents a major advancement in how users can interact with DeFi applications. By harnessing Zero-Knowledge Proofs (ZK-proofs) technology, Aave aims to offer more secure and cost-effective transactions while enhancing network scalability. This technology allows for the bundling of multiple transactions into a single proof, which is then verified on the Ethereum blockchain, reducing costs while increasing transaction processing capacity.
Aave Labs founder and CEO, Stani Kulechov, emphasized the importance of this development, stating:
“By combining ZK-proofs with the unified Elastic Chain ecosystem, Aave can unlock unprecedented scalability, privacy, and security, expanding the DeFi user base and paving the way for new institutional applications.”
Enhanced Opportunities for Privacy-Centric Applications
The deployment of Aave on the Era network opens up new possibilities for privacy-focused DeFi applications. The ZKsync technology allows for the creation of private and customized networks tailored to specific asset classes, risk profiles, and user segments. The ability to personalize and secure financial interactions could become a major asset for institutional adoption of DeFi.
Alex Gluchowski, co-inventor of ZKsync, added:
“With the deployment of Aave on Era, a larger number of users will be able to fully harness the potential of ZKsync.”
Crucial Support from Chainlink and the Aave Community
The integration of Aave on the Era mainnet does not happen in isolation. Chainlink, the decentralized market data provider, plays a crucial role by supplying the necessary price feeds to ensure transaction integrity on this new platform. Johann Eid from Chainlink Labs expressed his enthusiasm for this collaboration.
Furthermore, the Aave DAO has already given approval for multiple assets, including USDC, USDT, WETH, and wstETH, to be available on Era. Additionally, the DAO is committed to redistributing airdrops received from the ZKsync ecosystem through liquidity programs, security modules, and merit programs, further enhancing Aave’s appeal to its users.
