Aave Launches on Aptos Marking Its First Non-EVM Deployment
Aave, the largest decentralized lending provider, has launched on Aptos, marking its first deployment on a non-EVM blockchain. This expansion introduces Aave V3 to a new ecosystem and supports its multichain strategy.
Aave’s Expansion Beyond Ethereum
- Aave operated exclusively on Ethereum and EVM-compatible chains prior to this launch.
- Deployment on Aptos required reimplementation of Aave V3 in the Move programming language.
- The platform now supports native USDC, USDT, APT, and sUSDe.
- A $500,000 bug bounty in Aave’s GHO stablecoin is live to enhance security.
Why Aptos?
- Aptos is a proof-of-stake Layer 1 blockchain using the Move programming language.
- APT is the native token with over $1 billion in total value locked and transaction speeds up to 30,000 per second.
- Stablecoins account for about 86% of assets within the Aptos ecosystem.
- Aave aims to leverage this stablecoin-heavy environment and introduce new collateral markets.
Institutional and Developer Appeal
- Aave DAO governs the protocol with net deposits exceeding $50 billion and nearly $37 billion in TVL.
- Developers can integrate Aave’s lending primitives into new applications using full tooling support.
- Aave seeks to serve as the Global Trading Engine for Aptos, unlocking new opportunities in stablecoin markets.
The launch is considered significant by both the Aptos Foundation and Aave founder, emphasizing the importance of multichain expansion for a global financial system.