Key Notes
- Aave launches Aave3 testnet on Aptos, marking its first non-EVM deployment.
- The testnet focuses on assessing V3’s safety, stability, and performance.
- Aave Labs encourages community input as it expands beyond EVM ecosystems.
Aave, a liquidity protocol, has continued its growth process as it confirmed the deployment of the Aave3 testnet, the first non-EVM deployment of the Aave protocol on Aptos. Aave announced on X (formerly Twitter) that the testnet phase aims to assess the safety, stability, and performance of Aave V3 on the Aptos blockchain, serving as a crucial step before a potential mainnet launch.
Aave V3 Testnet Focuses on Safety and Performance Evaluation
The Aptos Foundation initially reached out to the Aave community about launching Aave V3 on its mainnet, highlighting the potential benefits, which include high throughput, low fees, and enhanced security through the Move programming language. Aave Labs sees this as ideal for its first non-EVM deployment.
The Aave team opened community testing participation for the ongoing development. This deployment required rewriting the Aave codebase in Move programming language, rebuilding the interface, and adapting the protocol for Aptos VM compatibility, as the chain isn’t EVM-compatible.
Collaboration with Chainlink Ensures Security-First Approach
The Aptos testnet deployment relied on collaboration with Chainlink to develop production-ready price feeds for Aave V3, with input from security researchers ensuring a security-first approach throughout the process. The team stated:
“Collaboration with Chainlink was pivotal for the Aptos testnet deployment. Together with the Aptos Foundation, we worked with the Chainlink team on production-ready price feeds for Aave V3 on Aptos.The process involved security researchers from the get-go, which allowed the team to nurture the security-first approach which is as always centric in the development of Aave.”
Mainnet Launch Pending Governance Approval After Testnet Phase
Aave Labs will use the testnet phase to thoroughly validate the Move implementation of Aave V3’s safety, stability, and performance before a mainnet launch, pending governance approval. The team is working with Aptos, security researchers, and auditors, with planned audits by Certora, SpearBit, and OtterSec, as well as a security contest after the audits. Any additional security measures will be communicated to the DAO and service providers.
The team wrote that the proposal is currently in the approved “TEMP CHECK phase” while the testnet undergoes detailed evaluation. After the conclusion of the test, the proposal will move to the ARFC stage and, if accepted, will progress to the final governance review and approval. They wrote:
“For now, the proposal remains in its approved TEMP CHECK phase while the testnet undergoes thorough evaluation. Once testing is complete, the proposal will proceed to the ARFC stage and, if approved, to the AIP phase for final governance review and approval.”
Aave vows to keep the community updated as progress continues. Reacting to the development, Aave CEO Stani Kulechov stated that the update means the company is taking a major step closer to extending the protocol’s reach beyond the EVM ecosystem with Aptos.
next
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor’s and master’s degrees in linguistics. When not writing, he trades forex and plays video games.
