Aave plans to launch its own blockchain after V4 update

After the upcoming V4 update, Aave intends to launch its own blockchain called Aave Network. Given that the lending protocol has a total value locked (TVL) of $13 billion, the proposed network has the potential to become one of the largest Layer 2 solutions in DeFi.

On May 1, Aave launched its V4 version, which features a unified cross-liquidity layer and liquidity premium.

Yesterday, following speculation about Aave DAO members on social media, Aave CEO Stani Kulechov posted: “This is not an exercise, Aave Network plans to launch after V4.”

When asked about the V4 timeline, Kulechov posted: “Next year for sure.” Although there is little public information about the potential Aave network, it is speculated that the network will be secured by Ethereum and will serve as the foundation for the network. the Aave protocol and its native stability The heart of CoinGHO.

The Aave community is excited about the news, with figures such as Marc Zeller, founder of the Aave-Chan Initiative (ACI) stating: “It will also become the third largest ‘chain’ after Ethereum and Tron.”