Decentralized finance (DeFi) lending protocol Aave announced the launch of its protocol’s subgraph on The Graph, an indexing protocol designed for querying data.
Prior to the roll out, Aave successfully upgraded 20 subgraphs across ten different networks, including Ethereum, Polygon, Avalanche, Scroll, Base, Gnosis Chain, BNB Chain, Arbitrum, Optimism, and Metis, to improve the data integration ecosystem.
Developers within the Aave ecosystem and users of its subgraph can now have the benefits of a decentralized network supported by numerous indexers, enhancing the support for their decentralized applications (dApps). The upgraded subgraphs improve the accessibility of high-performance, decentralized data for developers building on Aave.
To join, users are advised to upgrade their subgraphs to The Graph Network before June 12th, as the hosting service endpoint will no longer be available after this date.
The Graph is a decentralized indexing protocol created to organize blockchain data. Applications utilize GraphQL to query open application programming interfaces (APIs) or subgraphs, which allow for the retrieval of data indexed on the network.
The @Aave Protocol subgraphs are live on @graphprotocol's Decentralized Network, organizing data on: 10 Supported networks > 10 million total transactions Balances, rates, parameters, and more
— Aave Labs (@aave) June 5, 2024
Aave Nears Approval For BNBx Addition to V3 on BNB Chain Proposal As Its Community Looks Ahead To Upcoming Developments
Aave offers its users efficient lending and borrowing of cryptocurrencies. By leveraging liquidity pools composed of various cryptocurrencies, Aave eliminates the need for central intermediaries. Lenders contribute to these pools to earn interest, while borrowers can access overcollateralized loans. According to DefiLlama, Aave’s current total value locked (TVL) is $13.24 billion.
Recently, the Aave initiated the ARFC proposal vote to “add BNBx to Aave V3 on the BNB Chain.” The vote is set to conclude tomorrow, with a current approval rate of 100%.
Previously, the network launched a vote on the “Aave 2030” proposal, aiming to encourage debate about the future vision beyond 2030. Additionally, plans are in place to roll out Aave V4, the next version of its protocol, in 2025. Following this, Aave founder Stani Kulechov posted on social media platform X, indicating that the new network will be launched after the release of V4.
The post Aave Protocol’s Subgraph Now Available On The Graph, Enabling Users To Benefit From Decentralized Network Supported By Numerous Indexers appeared first on Metaverse Post.