The AAVE community is currently conducting a temperature check vote on a governance proposal that focuses on deploying the AAVE V3 protocol on the EVM-compatible layer 1 CELO blockchain. The proposal is being co-sponsored by the CELO Foundation, which has outlined several key points in the initiative.

The CELO Foundation plans to allocate 0.5% of the CELO distribution to incentivize the growth of the ecosystem. This allocation aims to enhance CELO accessibility for AAVE users and support the establishment of validator nodes after discussions with the community. Additionally, the CELO community has shown interest in AAVE investment to provide liquidity, which is currently being explored.

The temperature check vote will continue until 16:42 on the 17th. If the proposal gains sufficient support and reaches community consensus, it will proceed to the AIP (Aave Improvement Proposal) stage and eventually be put up for a governance vote. This collaboration between AAVE and CELO aims to expand the utility and capabilities of both platforms, benefiting their respective communities. 🌐🤝🚀 #AAVE #CELO #DeFi #Cryptocurrency