- Analytics firm Flipside Crypto has tabled a proposal to deploy Aave v3 on Base.
- The organization believes it will increase audience reach and revenue for native token holders.
The Aave community on the Snapshot website has tabled a proposal to deploy the protocol on Base’s network when developers release the latter’s mainnet. At the time of writing, the quorum is almost unanimously in favor of the initiative.
“This decision aims to integrate Aave into the new ecosystem, embracing the growth and infrastructure provided by Coinbase’s products and scaling, as well as offering new opportunities for both parties,” emphasized the author from analytics organization Flipside Crypto.
The accompanying text states that initially, if the initiative is approved, Base users will have the option to pledge to wETH, wstETH, cbETH and USDC. The project team also proposed an initial version of the borrowing terms for these positions.
At the time of writing, voting participants have placed 409,000 AAVE tokens. 99.97% of them in favor of the initiative. This suggests that the proposal will be accepted.
The protocol community was considering such integration at the end of May 2023. At the time, the idea’s backer, analyst Francis Gowan of Flipside Crypto, said it would raise additional capital and open up the platform to a new base of potential customers.
Remember, the developer version of the Base mainnet went live in mid-July 2023. At the same time, the daily transaction volume on the network passed 550,000. The blockchain is expected to be launched to a wider audience in early August.
The launch of the blockchain for the general public is expected in early August.