Aave Community’s ARFC Proposal Receives 100% Support for Deploying V3 MVP Version on Polygon zkEVM Main Network
On March 31st, according to the voting page, the Aave community\’s ARFC proposal for \”Deploying V3 MVP Version on the Polygon zkEVM Main Network\” (ARFC proposal is usually considere
On March 31st, according to the voting page, the Aave community’s ARFC proposal for “Deploying V3 MVP Version on the Polygon zkEVM Main Network” (ARFC proposal is usually considered as a “temperature check”) received 100% support and will enter the formal online voting. The proposal points out that the deployment of Aave V3 requires less development effort, but in order to reduce risks, it is recommended to limit the inflow of assets and set conservative risk parameters to enable development and risk service providers to conduct a more in-depth analysis of the zkEVM network. The proposal proposes to add only three collateral (WETH, WMATIC, and USDC) and one loanable asset (USDC) to reduce risk.
The ARFC proposal of the Aave community on “Deploying V3 MVP Version on the Polygon zkEVM Main Network” has been voted through
Introduction
On March 31st, 2021, the Aave community’s ARFC proposal for “Deploying V3 MVP Version on the Polygon zkEVM Main Network” received 100% support and will now enter the formal online voting process. This proposal outlines the deployment of Aave V3 on the Polygon zkEVM network and recommends taking measures to limit risk.
Table of Contents
1. Introduction
2. Background information on Aave
3. What Is Polygon zkEVM?
4. Aave V3 MVP Version
5. The Proposal
6. Recommendations for Risk Management
7. Limitations on Collateral and Loanable Assets
8. Benefits of Deployment on Polygon zkEVM
9. Concerns and Criticisms
10. Online Voting
11. Conclusion
12. FAQs
Background information on Aave
Aave is a decentralized finance (DeFi) platform that enables users to borrow and lend cryptocurrency assets without intermediaries. It was founded in 2017 under the name ETHLend and was rebranded as Aave in 2018. Aave operates on the Ethereum blockchain and has become one of the largest DeFi platforms in terms of total value locked (TVL).
What Is Polygon zkEVM?
Polygon (formerly Matic) is a Layer 2 scaling solution for Ethereum that aims to improve its speed and lower its costs. One of its key features is the Polygon zkEVM, which is a layer that utilizes zero-knowledge proofs to enable smart contracts to execute off-chain while maintaining the security of the Ethereum network.
Aave V3 MVP Version
Aave V3 is the next version of the Aave protocol and is expected to introduce significant improvements over the current version. These improvements include a new user interface, more efficient use of collateral, collateral swap, and more.
The Proposal
The ARFC proposal submitted by the Aave community recommends deploying the Aave V3 MVP version on the Polygon zkEVM main network. The proposal notes that the deployment of Aave V3 on the Polygon network would require less development effort than on the Ethereum network.
Recommendations for Risk Management
The proposal recommends taking measures to limit risk during the deployment of Aave V3. These measures include limiting the inflow of assets and setting conservative risk parameters. This would enable development and risk service providers to conduct a more in-depth analysis of the zkEVM network.
Limitations on Collateral and Loanable Assets
The proposal suggests adding only three collateral types – WETH, WMATIC, and USDC – and one loanable asset, USDC to reduce risk. This is a conservative approach designed to limit risk while introducing Aave V3 on the Polygon network.
Benefits of Deployment on Polygon zkEVM
Deploying Aave V3 on the Polygon zkEVM network would allow for faster and cheaper transactions than the current version on Ethereum. This would improve the user experience and attract more users to the platform, leading to increased TVL and revenue.
Concerns and Criticisms
Some critics have raised concerns about the proposed limitations on collateral and loanable assets. They argue that limiting the assets would reduce liquidity and hinder the deployment of Aave V3 on Polygon. However, proponents of the proposal argue that the limitations are necessary to reduce risk and ensure a smooth deployment.
Online Voting
Following the successful ARFC proposal, the next step is formal online voting. Aave token holders will vote on whether to approve the proposal or not. If approved, the proposal will be implemented, and Aave V3 will be deployed on the Polygon zkEVM network.
Conclusion
The Aave community’s ARFC proposal for deploying Aave V3 MVP version on Polygon zkEVM main network has received 100% support and will now go through the formal online voting process. The proposal outlines measures to limit risk and proposes the addition of three collateral types and one loanable asset to reduce risk. If approved, deploying Aave V3 on the Polygon network would lead to faster and cheaper transactions, improving the user experience and attracting more users to the platform.
FAQs
1. What is Aave V3 MVP Version?
Aave V3 MVP version is the next version of the Aave protocol and is expected to introduce significant improvements over the current version. These improvements include a new user interface, more efficient use of collateral, collateral swap, and more.
2. What is Polygon zkEVM?
Polygon zkEVM is a layer that utilizes zero-knowledge proofs to enable smart contracts to execute off-chain while maintaining the security of the Ethereum network.
3. Why are there limitations on collateral and loanable assets in the proposal?
The limitations on collateral and loanable assets are necessary to reduce risk during the deployment of Aave V3 on the Polygon network. This would enable development and risk service providers to conduct a more in-depth analysis of the zkEVM network to ensure a smooth and safe deployment.
#
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/12298/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
The newly added GNS of Coin Security refers to the lendable assets of full warehouse margin and warehouse by warehouse margin
According to the official announcement, Coin Security has added GNS as a loanable asset for full position margin, per position margin, and new margin pairs. The new full position m
-
Musk denied meeting with FTC Chairman over Twitter Investigation
According to reports, Musk had requested a meeting with Lina Khan, chairman of the Federal Trade Commission (FTC) of the United States, but was refused. The committee has been inve
-
NFTs on Polygon: Setting New Records in March 2022
According to reports, according to the latest data from Cryptoslam, the sales of NFT on the Polygon chain reached approximately $36180316.42 in March, setting the highest trading r
-
Injective Protocol Makes Significant Gains in$INJ
On April 17th, according to market data, INJ (Injective) briefly broke through $9.5 and is now quoting $9.48, a 24-hour increase of 10.71%.
INJ (Injective) broke through $9.5 in th -
Poolz Finance’s $POOLZ Token Plummets by 90%: Beosin Raises Security Concerns
According to reports, according to the Beosin EagleEye security risk monitoring, early warning, and blocking platform monitoring under the blockchain security audit company Beosin, the $POOLZ token related to Poolz Finance plummeted by 90%. The Beosin security team is following up on the analysis and invites investors to pay attention to the safety of their funds. Poolz Finance related tokens plummeted by 90% Investors should pay attention to fund safety Analysis based on this information:Beosin EagleEye, a blockchain security audit company, has reported that the $POOLZ token related to Poolz Finance has plummeted by 90%. This has raised concerns amongst investors, as the Beosin security team found it necessary to warn them about the safety of their funds. The platform serves as an early warning risk monitoring and blocking platform, and the fact that the token has performed so poorly suggests that there might be some security issues. Poolz Finance is a decentralized platform that enables project owners, developers, and…
-
The Arbitrum Airdrop Exploitor: A New Ethereum Scam That Could Harm You
On March 21st, according to a tweet from encryption data company Arkham, the hacker\’s address marked by Nansen as an Arbitrum Airdrop Exploitor has sent Ethereum as a gas fee to ab
-
Heartstocks Secures 5 Million Euro Financing from Vanagon Ventures to Boost Blockchain Collectibles
On March 22, it was reported that financial technology company Heartstocks had completed a financing of 5 million euros invested by Vanagon Ventures. Heartstocks attaches importanc
-
Digital Asset Investment Products Experience Record Outflow of Funds
On February 21, the report of CoinShares, an institutional encryption fund management company, showed that the total outflow of funds from digital asset invest…
-
BoredApeYachtClub’s Goerli Testnet Version Breaks Records with a 1525% Rise in Floor Price in 24 Hours
On February 26, according to the data of OpenSea Testnets, the floor price of the Goerli test network version BAYC BoredApeYachtClub – GOERLI – TEST broke thro…
-
Nanjing Launches First Metaverse Reading Innovation Studio
According to reports, on April 21, the launch ceremony of the 2023 Nanjing Yuhuatai District National Reading Series was held at the Nanjing South Station Regional Party Building A
-
Alex Raises $2.5M Strategic Funding to Expand Decentralized Finance Ecosystem
It is reported that Alex, the decentralized exchange of Bitcoin, completed a strategic round of financing of US $2.5 million, with the participation of Trust Machines and Gossamer Capital. In addition to decentralized exchanges, Alex also provides pledge, income agriculture and start-up board services. The funds raised this time will be used to continue to establish decentralized finance in the Bitcoin ecosystem and expand user communities. Alex, the Bitcoin Decentralized Exchange, completed the financing of US $2.5 million Analysis based on this information:Alex, the decentralized exchange of Bitcoin, announced that it recently secured a strategic funding round of US $2.5 million, with participation from Trust Machines and Gossamer Capital. The funds will be used to continue to establish decentralized finance (DeFi) in the Bitcoin ecosystem and expand user communities. Alex, founded in 2019, provides several DeFi services, including decentralized exchanges, pledge, income agriculture, and start-up board services. Through its platform, users can securely trade and invest in cryptocurrencies without the…
-
NYDFS Halts BUSD Issuance by Paxos, Binance’s Stablecoin Issuer
It is reported that Circle reported to the New York Financial Services Department (NYDFS) in the fall of 2022, complaining that the blockchain data showed that…
-
Singapore’s RockX Launches Liquidity Pledge Platform Bedlock for Retail and Institutional Investors
According to reports, the Singapore blockchain company RockX has announced the launch of a liquidity pledge platform, Bedlock, aimed at attracting retail and institutional investors to make liquidity investments. In addition, Bedlock will also provide KYC and AML compliance services for Ethereum pledge institutions. It is reported that as an investor in RockX, Amber Group will become one of the first customers of the Bedlock platform. Singapore blockchain company RockX launches a mobile pledge platform, Bedlock Analysis based on this information:RockX, a Singaporean blockchain company, has recently unveiled its latest venture, the liquidity pledge platform, Bedlock. This new platform is specifically aimed at attracting both retail and institutional investors to make liquidity investments. Additionally, Bedlock will also offer Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance services for Ethereum pledge institutions. Bedlock is a unique platform that aims to offer liquidity to illiquid assets, exactly as the name suggests. It allows investors to pledge their Ethereum holdings, and then…
-
Large Transfer of USDT to Bitlinex Signals Potential Market Movement
According to the report, the data on the chain showed that at 17:42 on March 11, 2023, Beijing time, 60000000 USDT was transferred from the unknown wallet to B…
-
What is a Digital Asset Analyst (Digital Asset Encyclopedia)
According to official news, digital asset analysts are professional Cryptocurrency professionals. The working principle and goal of a digital asset analyst is to connect traders with investors and obtain compensation skills; By providing digital exchanges with liquidity, tracking project progress and analyzing prices and other tools, they can effectively manage their portfolios and Market trend; Develop the best investment strategy based on customers’ interest in products or services, assist users in reasonably assessing risks and making decisions, and so on Digital Asset EncyclopediaEditor’s note: This article is from the Digital Asset Encyclopedia (ID: DigitalAsset Capital), authored by CryptoWhale, and reprinted with authorization by Daily Planet There are a large number of scams and illegal activities in the blockchain field, but these scams spread very quickly and there are many different application cases occurring. For example, Ethereum hacker attack in 2017, EOS crash in 2018 These are all noteworthy events. However, with the significant increase in Bitcoin prices and the development…
-
Hut 8’s Revenue Decline but Increased Bitcoin Holdings
It is reported that Hut 8, a North American bitcoin miner, reported an annual revenue of $150.7 million ($109 million) in 2022, a decrease of $23.1 million com…