StarkNet Layer 2 Scaling Solution Could Be Next Platform To Host Flagship DeFi Aave Protocol
If passed, the new proposal by StarkWare’s product manager, Yael Doweck, might supercharge top-tier DeFi protocol Aave with StarkNet’s tools.
After Polygon and Avalanche based versions, Aave v3 could be deployed on StarkNet
According to the text of the proposal “ARC: Deploying Aave on StarkNet” submitted to the official governance portal of Aave’s decentralized finance protocol, StarkWare PM Yael Doweck proposes to deploy Aave v3 on StarkNet.
StarkNet is a second-layer scaling solution powered by a permissionless and decentralized ZK-rollup. This proposal is inspired by the recent collaboration between StarkWare and Maker DAO.
This integration can improve the security and resource efficiency of Aave’s DeFi instruments. Besides Ethereum, Aave has also launched on Avalanche and Polygon, so expanding to StarkWare seems like a natural step in its progression.
Besides gas efficiency and unmatched speed of transaction execution, Aave’s liquidity design will be interoperable with other smart contracts networks.
StarkWare co-finances the integration of Aave v3
All of these advances will be implemented without sacrificing security. According to the proponents, similar systems can operate with a gas saving of 1,500 times, regularly processing 40 transactions per second.
After explaining the roadmap of Aave’s deployment to StarkNet, the proposal author offers Aave DAO enthusiasts to co-fund the initiative on a 1:1 basis with StarkWare.
StarkNet is a highly scalable Layer 2 scalability solution designed to increase the resource efficiency and usability of traditional DeFi protocols.
