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Aave has recently published version 3 on the ethereum master network. A formal tweet was posted to inform users of the rollout. With the update, the aave community gained access to technical benefits and characteristics over the ether. This is Aave's largest deployment, with the support of seven resources. These assets are ether enveloped, bitcoin enveloped, usdc, ether enveloped staked, dai, aave, and bond.
Aave Protocol V3 is now live on the Ethereum market ??
”The most exciting aspect of V3 is its flexible design, which allows for a variety of new mitigating features, and its capital efficiency improvement. @StaniKulechovpic.twitter.com/QsSnnlhEMr
— Aave (@AaveAave) January 27, 2023
The latest The purpose of the Aave update is also to minimize risk to users. One of the last features it offers is the long-awaited mode of high efficiency. It allows users to increase the efficiency of their capital while lending and borrowing interlinked assets.
In addition, aave has published its method of isolation in version 3. the function increases the number of assets registered on the protocol as a guarantee. At the same time, the addition keeps the security of the protocol while users can separate liquidity risks.
Another characteristic accompanying the upgrade is gas optimization. The functionality reduces the gas costs associated to each function. According to aave, the new functionality reduces gas expenses by approximately 20% to 25%.
The movement received strong support from the community because aave voted on the deployment. The vote wrapped up on 26 January, with more than 700,000 votes cast. The session ended with 100% support for the ethereum core network deployment.
The president and chief executive officer and founder of aave, stani kulechov, spoke of this deployment. According to stani, flexible design is the best part about release 3. it facilitates new features of risk minimization as well as high decentralised liquidity and capital efficiency.
For almost a year, Aave has been released on Avalanche, Harmony, Optimism, Fantom, Polygon and Arbitrum with version 3. For example, the deployment of the protocol on Ethereum was an unavoidable decision.
