Aave officially expanded its version 3 network to Sonic Mainnet, the Blockchain platform announced on March 3.
The Aave (Aave) V3 deploys on the Sonic (s) network follows a recent governance proposal aimed at providing the loans market for the decentralized funding protocol to the network, previously known as Fantom.
The web3 platform and the contributor Aave BGDLABS managed the deployment, while Chaos Labs and Llamarisk carried out the risk assessment. According to the Aave team, chain finance and the Oracle Chainlink platform provides price food.
Aave’s expansion in Sonic
Sonic Labs launched his layer 1 of layer 1 in December 2024, the same month, the delegate of Aave Dao, Aave Chan, introduced the governance proposal V3-Sonoc. The Aave community then approved the proposal, paving the way for deployment.
By putting online on the Sonic network marks the first extension of the year of Aave, further strengthening its presence in the wider challenge ecosystem. This deployment introduces borrowing and loan opportunities for Sonic users, who can now gain incentives related to DEFI on Aave.
According to an announcement on X, Aave and Sonic Labs offer $ 15 million in tokens S and $ 800,000 in Aave tokens as incentives for the first adopters. Users can access these opportunities thanks to an initial list of supported assets, including USDC, WETH and WS.
Explaining the motivation for the deployment of V3 on Sonic, Aave Chain Initiative noted:
“Aave has deployed new L1 and L2 networks on several promising networks and is often one of the largest protocols in these networks. Given the impressive history of the team that builds Sonic and the innovations it promises, it represents a solid candidate for the deployment of Aave V3. In addition, monetization of costs for applications has the potential to be an additional source of income for Aave. »»
The co-founder of Sonic Labs, Andre Cronje, recently applied that Sonic “is the only channel where you are paid for the activity you create”.
Aave currently has a total locked value of more than $ 18.7 billion, which is slightly down to the top of more than $ 22 billion reached on December 14, 2024.
Since its launch in 2018 on Ethereum, Aave has developed on several networks. It was deployed on the polygon, the arbitrum, the optimism and the base, as well as the BNB chain, the avalanche and the gnosis chain.
