The governance group of Aave is presently evaluating an ARFC suggestion intended to launch V3 on Sonic and secure $63 million in liquidity assistance.
Should the new governance suggestion receive approval, Aave (AAVE) might transition to Sonic, an EVM-compatible blockchain system created by the founder of Fantom. This proposal was put forth by the Aave Chan Initiative on January 31, emphasizing that Sonic’s swift transaction capabilities and fee allocation system are significant factors for the implementation.
If sanctioned by February 4, this venture will include a $63 million liquidity assurance, comprising a $15 million funding commitment from the Sonic Foundation, $20 million in Circle’s USDC, and up to $50 million in $S tokens (around $27.15 million). Furthermore, Aave will provide $800,000 in stablecoins.
“Aave has engaged with various promising new L1 and L2 EVM networks, frequently emerging as one of the most significant protocols on those platforms. Considering the team’s remarkable accomplishments in developing Sonic and their dedication to innovation, it stands as a robust contender for Aave V3 deployment.” Moseiki and MintSwap Unite to Transform NFTFi and Web3 Commerce
ACI
The governance procedure has progressed to the subsequent phase, with the ARFC vote currently in progress. Last December, the Aave community endorsed an initial temp check for the extension to Sonic. If this latest proposal is successful, a more comprehensive risk evaluation will be carried out prior to the final vote.
