Aptos Foundation proposes deploying Aave V3 on Aptos Network

The Aptos Foundation, an organization supporting the development of Layer 1 blockchain Aptos, has proposed deploying a version of Aave V3, the open-source liquidity protocol governed by the Aave DAO, on the Aptos mainnet.

The proposal is currently in the "temperature check" phase, an early-stage process involving gathering feedback from Aave's governance community before progressing further.

Following the discussion, the proposal would move to a “snapshot” vote. If approved, it would then become an Aave Request for Comments (ARC) proposal, inviting further discussion on asset parameters and implementation details, before finally being submitted as an official Aave Improvement Proposal (AIP) and deployed after thorough testing and auditing, the Aptos Foundation said in a statement.

Aave Labs has already built integration code and deployed it onto the Aptos testnet, with the Aptos Foundation sponsoring the current audit process, it added.

If the initiative is ultimately approved by the Aave community, it would represent the first Aave deployment on a non-EVM blockchain, according to the Aptos Foundation, making it accessible to developers in Aptos’ Move programming language-based ecosystem.

Move was originally developed at Meta by a team composed of people from Facebook’s now-defunct Diem stablecoin project.