Aave proved its capabilities as a decentralized financial platform (DeFi) through the launch of its latest version, Aave V3.
In the latest version, Aave offers higher security guarantees, improvements to decentralization features, and has capital efficiencies for its users.
Aave V3 has also aired on 6 blockchains: Polygon, Phantom, Avalanche, Arbitrum, Optimism, and Harmony. Ethereum will follow but it is yet to be determined when.
One of the latest functions introduced in Aave V3 is Portal - enabling the transfer of Aave V3 assets to many different types of chains.
Most excitingly, the cost of gas for all the functions offered by Aave has been lowered by up to 20%-25%.
After this there will be more crypto projects present to support this latest version including aggregators like ParaSwap and 1inch; portfolio trackers and wallet providers such as Instadapp, Debank, DeFi Saver, Zapper, and Zerion.
Isolation mode was also introduced for the purpose of reducing the risk of newly listed tokens. This means that the exposure of such tokens will be limited and users can only borrow a certain amount.
AAVE Details (AAVE)
Is a DeFi protocol developed in Ethereum.
Its market value reached $ 1.88 billion
Record total value locked in (TVL): $ 12.1 billion
Total tokens in the current market: 13.64 million AAVE
The asset has posted a jump of more than 25% since its daily low, $ 113.5 on March 14 before touching a daily high, $ 142.1 on March 17, today.
However, at the time of writing, AAVE is trading at $ 137.99, up nearly 12% in 24 hours.
AAVE needs to jump nearly 80% to redeem its all -time high value (ATH), $ 666.86 recorded on May 18, 2021.
