Aave Labs has launched its V3 testnet on Aptos, marking its first foray into a non-EVM blockchain. Find out how this integration could revolutionize the DeFi ecosystem.
The DeFi ecosystem continues to expand into new horizons, and this time, Aave, one of the world’s leading decentralized lending protocols, has taken a historic step by launching its V3 testnet on Aptos, a blockchain not compatible with the Ethereum Virtual Machine (EVM).
This deployment marks Aave’s first foray into a non-EVM ecosystem, opening a new chapter in its expansion and diversification strategy.
A key milestone for Aave and Aptos
Aave Labs, the team behind the protocol, announced the launch of the V3 testnet on Aptos on January 7. This move not only represents a significant technical advancement, but also a strategic bet on exploring new blockchain architectures that offer greater scalability, security, and efficiency.
Aptos, a blockchain based on the Move programming language, has gained prominence in recent years for its high performance and focus on security. Unlike EVM-compatible blockchains such as Ethereum, Polygon, or Base, Aptos uses a different approach to execute smart contracts, allowing for faster transactions and lower fees.
The deployment of Aave V3 on Aptos is not only a technical achievement, but also a crucial step towards bringing decentralized finance to a wider audience. According to Stani Kulechov, CEO of Aave, this integration brings the protocol closer to its goal of “extending its reach beyond the EVM ecosystem.”
Deployment of the protocol on the Aptos network
The Aave V3 testing phase on Aptos aims to assess three key aspects: security, stability, and performance. To do so, Aave Labs has worked closely with Chainlink, the leading provider of decentralized oracles, to develop production-ready price feeds. This collaboration ensures that the data used in the protocol is accurate and reliable, a fundamental requirement for any DeFi platform.
Additionally, the Aave team has rewritten its codebase in the Move language, adapting the protocol to be compatible with the Aptos Virtual Machine (Aptos VM). This process was not straightforward, as it involved rebuilding the interface and adjusting the protocol to work in a non-EVM environment. However, the effort was worth it, as this implementation could lay the groundwork for future integrations into other non-EVM blockchains.
During the testing phase, Aave Labs has also encouraged community participation, inviting developers and users to test the network and report any issues, with the aim of identifying potential vulnerabilities and building greater trust in the project.
Security as a priority for Aave
Aave Labs has worked with security researchers and external auditors to ensure that the implementation of Aave V3 in Aptos meets the highest standards. Additionally, a security contest is planned following the audits, where cybersecurity experts will be able to identify and report potential vulnerabilities in exchange for rewards.
After this phase, the developers will prepare for deployment on mainnet, which must be approved by the governance of the decentralized protocol.
While the testnet is now live, the launch of Aave V3 on the Aptos mainnet is still pending approval from the community, which is currently evaluating the details of the deployment. Once the testing phase is complete, the proposal will advance to the Aave Request for Comments (ARFC) stage, where it will undergo further analysis. If approved, it will move on to the final Aave Improvement Proposal (AIP) phase, where the governance team will make the final decision.
During the TEMP CHECK vote, which was held in mid-2024 to gauge community opinion on implementing Aave V3 on the Aptos mainnet, the proposal received 99,86% of votes in favor.
The launch of Aave V3 on Aptos is not only an achievement for the protocol, but also a boost for the DeFi ecosystem at large. By expanding to a non-EVM blockchain, Aave is proving that decentralized finance can work on a variety of architectures, which could attract new users and developers.
Furthermore, this integration could increase Aptos adoption and position the blockchain as a viable alternative for DeFi projects seeking greater scalability and efficiency. On the other hand, if the Aptos mainnet launch is successful, we could see further integration between Aave and other non-EVM blockchains, which would further expand the reach of the protocol.
Despite the importance of this launch, the price of AAVE has not reacted positively, trading at around $287 per token, with a drop of more than 12% in the last week.
