Aave votes in favor of Coinbase L2 deployment

The proposal (ARC) to deploy Aave V3 on the layer2 Base has so far been approved à 99,9%. The vote ends tonight.

Opened on Friday on the Snapshot platform, the vote Aave Request for Comments (ARC) for protocol launch Aave V3 on Layer 2 solution Base The Coinbase exchange will close this Monday at 9 p.m.

Members of Aave DAO currently approve the proposal unanimously or almost (99.9%). Deployment on the mainnet de Basewhich was recently opened to developers, could well take place with the following assets wETH, wstETH, cbETH and USDC as collateral.

This deployment aims to extend Aave to a new ecosystem, capturing the growth and infrastructure enabled by Coinbase’s products and distribution, offering new opportunities for both ecosystems,” the proposal reads.

A launch on Base will allow Aave to take advantage of Coinbase integrations like fiat access ramps.

The proposal must now pass several stages before being submitted to a new Aave Improvement Proposal (AIP) vote.

May, Aave V3whose TVL is now close to $2 billion, has entered Metis, another Ethereum layer2.

Earlier this month, Aave has begun issuing its long-awaited GHO stablecoin. The token has a market cap of around $9 million, according to Coingecko.

Article updated on 07/31/2023 at 8:47 pm: details have been added concerning the voting type (ARC).

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