- This will give blockchain users access to new tools for efficient borrowing.
- Integration will also bring the possibility of using additional levers to control risks
Today, May 8, the MetisDAO Foundation announced the rollout of Aave Protocol v3 on the Andromeda mainnet. This will bring a number of benefits to users of the latter, including loans with lower collateral, cross-chain portals, and significant fee reductions.
The corresponding proposal appeared last year. The choice in favor of Metis in the Aave community was explained by the extensive potential of this network for scaling.
Just eight weeks after launch, this L2 blockchain has outperformed most competitors in terms of TVL. Much of the network’s popularity is due to its Optimistic Rollup technology and Graph node self-deployment mechanism.
The integration of Aave v3 into the Metic network brings certain benefits to the users of this blockchain, namely:
- efficient borrowing mechanism with reduced collateral;
- supply and borrowing limits for risk management;
- isolated borrowing;
- cross-chain tools to access a wider range of DeFi opportunities;
- gas optimization to reduce commissions;
- modular risk control and much more.
“The integration of Aave v3 improves the efficiency of the use of borrowed capital and introduces new tools to reduce risk. We are excited about this collaboration.” — Metis co-founder Kevin Liu.
The release also states that the agreement between the parties will strengthen the DeFi economy. We previously reported that Aave has approved the integration of the v3 protocol into the zkSync Era.