Aave Protocol is voting to execute its third iteration, or v3, on the Ethereum blockchain, a critical moment for the decentralized finance (DeFi) community, which hopes to benefit from v3’s focus on risk management and capital efficiency.
Aave’s Twitter account is calling v3 the “most significant upgrade to the Aave Protocol” since it launched in January 2017.
The vote ends Jan. 25, 2023, at 18:58 UTC. If the proposal passes, the deployment will execute on Friday, Jan. 27.
Aimed at improving user experience, risk management, and capital efficiency, v3 on Ethereum comes as Aave leads the charge as the largest lender in the DeFi space, with $3.8 billion in total value locked (TVL) across the Ethereum ecosystem, per DeFiLlama.
