Aave unveils the third version of its DeFi protocol

The lending DeFi platform Aave has announced the launch of the third version of its protocol.

1/ Aave V3 is here! 👻
The most powerful version of the Aave Protocol to date, V3 brings groundbreaking new features than span from increased capital efficiency to enhanced decentralization. Read what’s new in V3 in the thread below👇or visit https://t.co/H3jTyKRqNs to dive in! pic.twitter.com/LXzn7660nA

— Aave (@AaveAave) March 16, 2022

According to the developers, Aave V3 is characterised by a higher level of security and improved capital efficiency for users.

The platform is integrated with six networks: Polygon, Fantom, Avalanche, Arbitrum, Optimism and Harmony. Ethereum mainnet support will follow soon.

A number of well-known DeFi projects have already integrated with Aave V3, including ParaSwap, 1inch, Instadapp, DeBank, DeFi Saver, Zapper and Zerion.

Cross-chain compatibility has also been improved. Gas consumption has also been optimised, making transactions as cheap as possible.

An ‘isolation mode’ has been implemented: by interacting with potentially high-risk tokens, users can borrow limited amounts of funds. According to the developers, this approach allows the platform to add a multitude of new assets.

Earlier in February, the Aave team introduced Lens Protocol, designed to simplify the creation of social Web 3.0 platforms.

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