DeFi
According to the proposal, the merger of Aave and StarkNet would take place in two stages. The initial step is to build a cross-chain bridge between Ethereum and StarkNet for aTokens. The community has voted on the first phase.
This proposal attempts to finish the second phase of the Aave protocol deployment on StarkNet.
Aave’s speed is expected to increase once Starknet improvements are implemented. Starknet is anticipating a few major milestones in the near future that will provide higher scalability, lower transaction costs, and a much-improved development experience.
In contrast to many of the chains that presently utilize the Aave protocol, Starknet is not EVM compatible, forcing a rewrite of the Aave V3 protocol to Cairo 1.0. If this application is granted and the network is examined by BGD, Gauntlet, and Chaos Labs, the team wants to ask the Aave community for a $200,000 gift for development and audit expenses.
In early February, the Aave community approved another request to “freeze BUSD funds on Aave V2.”
The Aave community approved ARFC’s “BUSD delisting proposal” in March, which offers a departure route for BUSD on the V2 market. The idea seeks to reduce BUSD liquidity and encourage consumers to transfer to alternative stablecoins. The proposal, which involves altering BUSD’s risk criteria and will be executed in a single AIP.
On-chain voting is the next step in the adoption of Aave V3 on Starknet.
Aave V3, in addition to Starknet, has been suggested for deployment on the BNB Chain. Aave V3 will be deployed on the BNB Chain and accept BNB, WBTC, BETH, WETH, USDC, and USDT as collateral if permitted.
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