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Aave plants flag on non-EVM soil with V3 debut on Aptos

Press Releases Crypto News Crypto-News Aave plants flag on non-EVM soil with V3 debut on Aptos

Aave has officially expanded its dominion beyond Ethereum-compatible chains. Its debut on the Move-based Aptos network marks a major shift for the protocol, showcasing its adaptability and ambition to become a universal liquidity layer.

Summary

Aave launches V3 on Aptos, marking its first deployment on a non-EVM blockchain.
The initial markets support APT, sUSDe, USDC, and USDT, with scalable supply and borrow caps.

On August 20, DeFi lending provider Aave announced the mainnet launch of its V3 protocol on the Aptos blockchain. The deployment, executed by Aave Labs on behalf of the Aave DAO, is the protocol’s first-ever deployment on a non-EVM chain, breaking a five-year tradition of operating exclusively within the Ethereum Virtual Machine ecosystem.

The initial market will support Aptos (APT), sUSDe, USD Coin (USDC), and Tether (USDT), with supply and borrow caps set to scale alongside user demand. At the same time, developers will have access to robust infrastructure to build onchain financial applications.

Aave V3 on Aptos: Technical feat and strategic expansion

Aptos, with its focus on high throughput and sub-second finality, has cultivated a growing stablecoin economy valued at approximately $1.3 billion, predominantly in USDT. For Aave, a protocol with over $50 billion in historical net deposits, this represents a fresh pool of assets to mobilize.

The integration aims to unlock novel collateral types, particularly liquid staking tokens. With data suggesting only 8.1% of staked APT is currently in liquid staking tokens compared to 76% natively staked, Aave and Aptos envision a significant opportunity to catalyze a deeper borrowing and lending market on the chain.

According to the press release, deploying Aave V3 on a non-EVM chain required substantial technical work. The protocol was fully rewritten in Move, its front end and software development kit were rebuilt, and its business logic was r

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Author: Brian Danga

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