Decentralized finance (DeFi) lending protocol Aave initiated a temperature check proposal to gauge community support for the potential approval of the Superlend DeFi protocol deploying a friendly fork of Aave V3 on Etherlink, which is part of the Stage 2 Ethereum Virtual Machine (EVM) rollup, as well as on Arbitrum.
Superlend is a lending and borrowing aggregator that connects multiple money markets across different blockchains. Beginning with its Etherlink market, it seeks to offer the highest yields and the most competitive borrowing rates by pooling liquidity and opportunities from more than 30 top DeFi protocols across various blockchains.
Superlend intends to develop a platform, allowing users to manage their financial positions throughout various blockchains and protocols. Its objective is to optimize Annual Percentage Rates (APRs) for lending and secure the lowest rates for borrowing.
The proposal outlines plans to launch money markets leveraging the Aave V3 codebase on Etherlink and Arbitrum. Additionally, it seeks to incorporate Aave V3 markets that are deployed by the Aave DAO within the EVM ecosystem, including those on Ethereum, Base, and Polygon, into the aggregator.
For the Arbitrum deployment, Aave intends to launch an instance of Aave V3 that is set to concentrate solely on ETH and ETH-correlated assets, encompassing Liquid Staking Tokens (LSTs) and Liquid Restaking Tokens (LRTs), mirroring Aave’s Lido instance on Ethereum. This setup will allow users to operate their positions in the Aave framework simultaneously enabling Superlend to provide cross-chain liquidity management features.
Additionally, Superlend has proposed a revenue-sharing model, where 15% of the revenue generated from these markets will be shared with the Aave DAO.
The proposal is currently open for community voting and will remain active until September 8th. So far, the majority of voters have expressed support for the proposal.
Aave Deploys V3 On ZKsync Era Mainnet
Aave Protocol operates as a decentralized, non-custodial liquidity platform, allowing individuals to engage as suppliers, borrowers, or liquidators.
Suppliers share liquidity to the platform, generating interest on the cryptocurrency assets they provide, while borrowers can obtain loans, typically requiring overcollateralization. In addition, borrowers have an option to utilize “flash loans,” which are one-block borrow transactions that do not need to be overcollateralized.
Recently, Aave deployed Aave V3 on the ZKsync Era Mainnet, enhancing the platform with improvements in scalability, privacy, and security.
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