DeFi
Aave to launch its own blockchain after V4 upgrade
Aave CEO Stani Kulechov has hinted that DeFi’s largest lending platform could launch Aave Network in 2025.
Aave is looking to launch its own blockchain, dubbed Aave Network, after its upcoming V4 upgrade. Considering the total locked value of $13 billion of the lending protocol (TVL), the proposed network could potentially become one of the largest layer 2 solutions in DeFi.
May 1, Aave revealed its V4 iteration including a unified cross-chain liquidity layer and liquidity bounties.
Yesterday, following speculation from Aave DAO members on social media, Aave CEO Stani Kulechov job“This is not an exercise, Aave Network should come after V4.”
Asked about the V4 timeline, Kulechov continued: assignment, “Next year, of course.” While there is little publicly available information about the potential Aave network, it is presumed that the network will be secured by Ethereum and serve as a hub for both the Aave protocol and its native stablecoin. GHO.
The Aave community was excited by the news, with figures including Marc Zeller, founder of the Aave-Chan Initiative (ACI), saying“It would also be the 3rd largest “chain” after Ethereum and Tron.”
Aave’s TVL has increased by 21% over the past month. Meanwhile, its governance token AAVE is on the rise 9% over the week, outperforming other established DeFi protocols such as Lido and Maker.