Aave Plans Expanding to BNB Chain

The Aave community is looking to expand on the BNB chain and voting for the temperature check for deployment on Starknet.

Today, Mark Zeller, the founder of Aave Chan Initiative, proposed the deployment of Aave Version 3 (V3) on the BNB chain. By expanding to the BNB chain, Aave wants to cater to its large user base.

According to the latest data from Token Terminal, the BNB chain has the second largest daily active users after the Tron chain. On Apr. 2, the BNB chain had approximately 1.1 million active users.

Aave Launching on BNB Chain Makes Financial Sense

The Decentralized Finance (DeFi) researcher Ignas, wrote on Twitter, “Uniswap V3 deployment on BNB Chain has had a second-order effect. BNB Chain used to be considered ‘unfit’ for Ethereum-based dApps due to its centralization. But BNB Chain has many retail users, so launching on it makes financial sense.”

The Decentralized Exchange (DEX) Uniswap also went live on the BNB chain on Mar. 15.

If the proposal is passed, users can put BNB, Wrapped Bitcoin (WBTC), Binance-peg Ethereum (BETH), Wrapped Ethereum (WETH), USDC, and USDT as collateral.

Expansion to Starknet and Polygon

Along with the proposal to launch on the BNB chain, the Aave community is also voting on a temperature check for deployment on zero-knowledge rollup Starknet. 

The second phase proposal summarizes the details of phase-1, which was passed with a majority by the community. The voting started today and ends on Apr. 11.

As of writing, it has received 13,701 votes, with 99.91% voting in favor of the proposal.

On Mar. 29, the Aave community also passed a temperature check proposal for V3 deployment on the Polygon Zero Knowledge Ethereum Virtual Machine (zkEVM).

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