Aave has officially expanded its version 3 network to Sonic Mainnet, the blockchain platform declared on 3 March.
Sonic (AAVE) V3 Posted on the Sonic (S) network follows a recent governance proposal aimed at bringing the lending market of decentralized finance protocol into the network, which was previously known as Phantom.
The Web3 platform and Aave contributor BGDlabs managed the deployment, while the Caos Labs and Lalamariskand evaluated the risk. According to the AAV team, on-chain finance and racle platform offers the channel priced feed.
Aave expansion for sonic
Sonic Labs launched its Layer-1 Mennet in December 2024, the same month Aave Dao Delegate Aave Chan moved the V3-to-Sonic Governance proposal. The Aave community later approved the proposal, paved the way for deployment.
Going live on the sonic network, marking the first expansion of the year of AAV, which further strengthens its appearance in broad Defense ecosystem. This purinogen introduces borrowing and lending opportunities to sonic users, which can now earn defi-related incentives on Aave.
According to an announcement on X, AAV and Sonic Labs are offering $ 15 million in S tokens and $ 800,000 in AAV tokens, which are incentive for early adoptives. Users can use these opportunities through a preliminary list of assets supported including USDC, WETH and WS.
Sonic, explain the inspiration to deploy V3 on the AAV Chain initiative noted,
“Aave has deployed many promising new L1 and L2 EVM networks and is often one of the largest protocols on these networks. Given the impressive history of the team building Sonic, and promises innovations, it represents a strong candidate for the deployment of Aave V3. In addition, the fee for apps has the ability to be an additional income source for Aave in mudification. ,
Sonic Labs co-founder Andre Kronje recently Accepted That sonic is “the only series where you are paid for the activity you created.”
The total value of Aave is currently more than $ 18.7 billion, with it slightly below on December 14, 2024 at a peak of over 22 billion dollars.
Since the launch at the Etherium in 2018, Aave has expanded several networks. It has deployed polygon, mediator, optimism and base, as well as BNB series, avalanche and ganosis series.
