The leading DeFi protocol Aave hints at the launch of a new Blockchain. This comes after its V4 upgrade. The new events in the crypto ecosystem sure does provide an upper hand for decentralized finance.
The latest ETF approvals on Bitcoin and Ethereum by the US SEC is one of the factors that trigger the growth of decentralized finance. In this scenario, Aave may be making a leap. Here in this news piece let’s read more about Aave’s new plans.
You can read all the latest reports on this event. We make sure that you do not miss out on anything in the crypto world. Start reading to know all about the Aave Network launch.
Aave Launching A Blockchain?
This news was revealed to the crypto community by the founder of Aave, Stani Kulechov. He let the world know this through a post on his social media platform. He wrote that this was not a drill. And he added that Aave Network was planned to come after V4.
We were not able to get more information from his social media post as he did not explain about the plans. One thing we grasped is that the Blockchain platform would be termed as ‘Aave Network’.
Kulechov did not mention anything about the functionalities or about the properties of the network. We still look forward to knowing more about the details of the blockchain platform.
Aave Blockchain Platform Launch Date
The crypto communities are eager to know about the launch date of the Aave Network. Do we know about this?
The founder of the platform has not yet please provide us with a date for the platform launch. However, he did mention that Aave Network would be launched by next year. He added that they were making attempts to launch it as early as possible. Therefore you can also expect it to be launched even before the coming year
Is Aave Labs Dominating The Blockchain?
Aave Labs has recently been making some big leaps in the decentralized world. Aave Network was proposed by the labs as a part of its long term road map until 2030.
From the announcements of Aave Labs we were able to know more about the Aave Network. It said that the network after its launch would predominantly serve as a hub for Aave and GHO. Simultaneously, the network would also maintain a multi chain functionality and network agnostic approach.
Aave Labs stated that Ethereum would remain as the home for the Aavo DAO and the Aave governance. Aave Network was supposed to bring an unprecedented growth to Aave and GHO at the same time. And the network would also open up new and unexplored markets.
Responses From Community
The news of the blockchain launch received a warm welcome from the communities. The users of the platform were excited to see the news. DeFi experts and analysts viewed that it was a positive sign for Aave.
It is a sign that the protocol is having an upward momentum and it also hints at the potential of the protocol. The future seems to be a good time for DeFi and Aave with its early move is sure to dominate the world of DeFi in the future. Aave is already a reputed DeFi protocol.
The Axelar foundation head of DeFi, Jason Ma said that all successful apps would launch their own chain over time. He was hinting at the successful trajectory that Aave has traveled through to reach its current position.
Let us now look at what the founder of Aave Chan Initiative Marc Zeller had to say about this. He made a prediction that Aave would grow to be the largest Ethereum Layer. Zeller added that Aave would have around 20.5 billion US dollars in market size.
This would result in positioning Aave at a higher position than all the other projects on Ethereum network. If Aave succeeds in achieving this target market size it would pose a challenge for the other Ethereum based layer 2 networks like Arbitrum, Optimism, and Base.
Zeller continued that achieving this market cap would enable Aave to be the third largest chain in the world behind Ethereum and Tron.
