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Aave Backs the Proposed Metis Deployment

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Reportedly, the community of Aave has come out supporting the deployment of V3 on Metis. Aave is a DeFi lending protocol that recently registered a TVL of $8.5 billion, and Metis is a layer 2 network on Ethereum. Reports further claim that Metis will roll out $3 million in liquidity mining for Aave users. This includes 100,000 METIS tokens through a reward program.

The development received support unanimously at the time of drafting this article. Voting for the same concludes this Thursday. No matter the outcome, polls till now have reaffirmed the commitment of Aave to support the layer 2 ecosystem of Ethereum.

Aave has already deployed V3 on the Ethereum mainnet to mitigate user risk in January. V3 is already live on seven chains, including Polygon sidechain, Optimism, and Arbitrum. L2beat has reported the TVL of Metis to be approximately $127 million, making it the fifth-largest layer 2 networks.

(by Trevor Holman)

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