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Neon Basis proposes deployment of Aave V3 on Neon EVM

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Neon Basis proposes deployment of Aave V3 on Neon EVM

  • A brand new proposal by Neon Basis and Aave Chan Initiative outlines the deployment of Aave V3 on Neon EVM.
  • The proposal is on the preliminary stage of group consideration and can proceed to a governance vote if sentiment is constructive.

The Neon Basis is looking for suggestions from the Aave group over its proposal to deploy Aave V3 on Neon EVM mainnet. The proposal, additionally supported by Aave Chan Initiative (ACI), outlines the advantages of bringing Aave’s lending companies to the EVM-compatible sensible contract platform.

Neon EVM is constructed on Solana and permits for the scaling of Ethereum dApps on Solana.

“Temp test” for Aave V3 growth to Neon EVM

In line with Neon, the proposal is a “temperature test”. If a snapshot evaluation reveals supportive sentiment from the Aave group, this can proceed to the subsequent step as an Aave Enchancment Proposal (AIP). 

From right here, a governance vote and potential adoption will see Aave V3 broaden to the Solana-based platform as a minimal viable product (MVP).

This proposal suggests deploying Aave V3 on Neon EVM Mainnet with restricted deployment of preliminary property and conservative threat parameters. This strategy will allow Aave to strategically set up a presence within the Solana ecosystem whereas minimizing threat publicity,” the co-authors wrote.

Aave’s growth to Neon EVM will allow entry to an “unaddressed” group of customers, add to community liquidity, and faucet into Solana’s group and ecosystem.

Neon Basis additionally notes that the mixing may permit for additional development for the platform, together with by means of capturing of share of the Solana DeFi ecosystem. This doesn’t solely have the potential to develop the community’s group and consumer base, but additionally enhance its whole worth locked (TVL) and protocol income.

Neon highlights three collaterals in SOL, mSOL, jitoSOL. USDC is envisioned as a borrowable asset.

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