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Aave will launch its own Blockchain after upgrading to V4
Aave CEO Stani Kulechov hinted that DeFi’s largest lending platform could launch Aave Network in 2025.
Aave is looking to launch its own blockchain, called Aave Network, after its upcoming V4 update. Given the $13 billion in total value blocked by the lending protocol (TVL), the proposed network could potentially become one of the largest Layer 2 solutions in DeFi.
On May 1st Aave revealed its V4 iteration featuring a unified cross-chain liquidity layer and liquidity rewards.
Yesterday, following speculation from Aave DAO members on social media, Aave CEO Stani Kulechov published“This is not a drill, Aave Network should come after V4.”
When asked about the V4 timeline, Kulechov continued, publication, “Next year for sure.” While there is little information publicly available about the potential Aave network, it is assumed that the network will be secured by Ethereum and will serve as a hub for both the Aave protocol and its native stablecoin. GHO.
The Aave community was thrilled by the news, with figures such as Marc Zeller, founder of the Aave-Chan Initiative (ACI), said“It would also be the third largest “chain” after Ethereum and Tron.”
Aave’s TVL is up 21% over the past month. Meanwhile, its governance token AAVE is on the rise 9% during the week, outperforming other established DeFi protocols such as Lido and Maker.