The Neon Foundation and Aave Chan Initiative have proposed a new plan to deploy Aave V3 on Neon EVM. This proposal is currently in the initial stage of community consideration and will proceed to a governance vote if the sentiment is positive. The goal is to bring Aave’s lending services to the EVM-compatible smart contract platform.
Neon EVM, built on Solana, allows for the scaling of Ethereum dApps. The proposal is a “temperature check” to gauge the community’s support. If the assessment shows positive sentiment, it will move forward as an Aave Improvement Proposal. This will be followed by a governance vote and potential adoption of Aave V3 on the Solana-based platform, starting with a minimal viable product.
The proposal suggests a limited deployment of initial assets and conservative risk parameters to strategically establish Aave’s presence in the Solana ecosystem while minimizing risk exposure. This expansion to Neon EVM will provide access to a previously untapped user base, increase network liquidity, and tap into Solana’s community and ecosystem.
The integration also presents opportunities for further growth, including capturing a share of the Solana DeFi ecosystem. This has the potential to grow the community, user base, total value locked, and protocol revenue. The proposal also mentions three collaterals (SOL, mSOL, jitoSOL) and envisions USDC as a borrowable asset.
In summary, the Neon Foundation and Aave Chan Initiative’s proposal for Aave V3 deployment on Neon EVM has the potential for significant growth and expansion. The community’s feedback and support will determine the next steps in this exciting development.
