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DeFi protocol Aave will launch a tailor-made blockchain after upgrading to V4
DeFi protocol Aave plans to launch an “Aave Network” chain after completing the V4 update.
Stani Kulechov, the founder of the lending protocol, revealed this in a social media post on May 27, said:
“This is not a drill, Aave Network should come after V4.”
Although Kulechov did not provide further information on the plan, he mentioned that the chain could launch “definitely next year or sooner.”
According to DeFillama dataAave is the largest lending protocol in the DeFi sector, with total asset value locked at $13.2 billion.
Aave network
Earlier this month, Aave Labs proposed the Aave network as part of its 2030 strategic roadmap.
The company said the network will serve as the primary hub for Aave and GHO while maintaining a multi-chain, network-agnostic approach.
He added:
“While Ethereum would remain the home of Aave DAO and Aave governance, the network can bring unprecedented growth to Aave and GHO by opening untapped markets.”
The proposal outlined plans to use the GHO stablecoin for gas fees, while the AAVE token would be the primary staking asset for decentralized validators and sequencers.
Meanwhile, Aave Labs stressed that it will continue to monitor the evolution of both Layer 1 and Layer 2 blockchain before finalizing its planned network architecture. However, he confirmed that the Aave network will inherit its security from Ethereum.
The community welcomes the news
Members of the crypto community have warmly welcomed the news of the Aave network’s plans.
Jason Ma, head of DeFi at the Axelar Foundation, She said:
“All successful apps will launch their own chains over time.”
Meanwhile, Marc Zeller, the founder of the Aave Chan Initiative, claimed that Aave would be the greatest Ethereum Layer with a market size of $20.5 billion. This would place it ahead of other Ethereum-based layer-2 networks such as OptimismArbitrum and the rapidly rising Coinbase-backed Base network.
He added that Aave would rank as the third largest chain after Ethereum and Tron with that market capitalization.
Avara, the parent company of Aave, recently announced this Goal network to expand the Lens protocol, based on zkSync technology, and Kulechov strongly supported the workflow for launching appchains.