Aave Launches V3 Testnet on Aptos, Paves Way for Non-EVM Deployment

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Aave, a decentralized liquidity platform, is expanding further by successfully launching its test network (Aave3) on the Aptos blockchain. This marks the first instance of Aave’s deployment outside the Ethereum Virtual Machine (EVM). Aave shared this development on their official channel (formerly Twitter), explaining that the test phase is designed to evaluate the safety, reliability, and speed of Aave V3 on the Aptos network. This testing stage is a vital step towards possibly launching on the mainnet.

Aave V3 Testnet Focuses on Safety and Performance Evaluation

At first, the Aptos Foundation extended an invitation to the Aave community, expressing their plans to launch Aave V3 on their main network. They emphasized several advantages such as increased speed, reduced costs, and improved security achieved through the use of the Move programming language. Aave Labs finds this a suitable opportunity for their first deployment outside the Ethereum Virtual Machine (EVM) ecosystem.

The Aave team invited the community to take part in the testing phase of their ongoing project development. This new deployment necessitated a transformation of the Aave codebase into the Move programming language, a redesign of the interface, and an adjustment of the protocol to be compatible with the Aptos Virtual Machine (VM), since the chain isn’t Ethereum Virtual Machine (EVM) compatible.

Collaboration with Chainlink Ensures Security-First Approach

For the deployment of the Aptos testnet, we partnered closely with Chainlink to create robust, market-ready price data feeds suitable for Aave V3. Throughout this collaboration, we consulted with cybersecurity experts to maintain a focus on security at every stage of development. Here’s what our team shared:

Working alongside Chainlink was crucial for our Aptos testnet launch, where we partnered with the Chainlink team to establish production-ready price feeds specifically for Aave V3 on the Aptos network. This joint effort incorporated security specialists from the beginning, enabling us to prioritize a secure development approach that aligns with the core values of Aave.

Mainnet Launch Pending Governance Approval After Testnet Phase

Aave Labs intends to utilize the testnet stage to meticulously assess the functionality of Move in Aave V3, focusing on its safety, stability, and performance. Assuming governance approval, this is a precursor to the mainnet release. The team is collaborating with Aptos, security specialists, and auditors, with audits scheduled from Certora, SpearBit, and OtterSec, followed by a security competition post-audit. Any extra safety measures will be shared with the DAO and service providers.

The team said that the current status of the proposal is “Temperature Check” (detailed evaluation), which follows the testing phase. After the testnet assessment is done, it’ll move on to the ARFC stage for potential approval, followed by a final check by governance if approved.

Currently, my focus as an analyst is on the TEMP CHECK phase of the proposal, as it’s still undergoing a comprehensive evaluation within our testnet. Once this testing period concludes, I anticipate that we will advance the proposal to the ARFC stage. If it receives approval there, it will then progress to the AIP phase, where it will be subjected to a final review and approval by governance.

Aave promises to regularly inform the community about ongoing advancements. In response to this news, Aave CEO Stani Kulechov expressed that this update signifies a significant stride towards expanding the protocol’s influence beyond the Ethereum Virtual Machine (EVM) environment, via Aptos.

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2025-01-08 00:03