Aave has announced the successful launch of Aave V3 on the ethereum mainnet. The latest version of the DeFi protocol comes with several improvements, including gas fee optimization and more.
Aave V3 Launches on Ethereum Mainnet
Following strong backing and support from members of the Aave community, the development team has successfully integrated the third iteration of the decentralized finance (DeFi) protocol, dubbed Aave V3, into the Ethereum mainnet.
According to a Twitter thread by Stani Kulechov, founder and CEO of Aave, Aave V3 comes with several enhancements and features, including gas optimization (reduces gas cost by 20-25%), high efficiency mode to increase capital efficiency and more.
To make Aave V3 as resistant to hackers as possible, the team revealed last October that it had spent around $1.6 million on audit operations for the platform between 2020 and 2022.
At the time of writing, the Aave protocol is the fourth largest DeFi ecosystem in the world, with $4.56 billion in total value locked (TVL), eclipsed only by Lido (TVL $8.03 billion), MakerDAO ($7.15 billion million) and Curve ($4.72 billion)), according to Defi Llama.
