Aave launches the third version of its protocol on Metis Network

On May 8, the launch of the third version of Aave’s decentralized lending service on the L2 network Metis Network took place. This was reported on MetisDAO’s Twitter.

After deploying Aave V3, Metis users gained access to:

• loans with lower collateral requirements;
• limits on lending and borrowing amounts to manage risk;
• isolation mode to increase the collateral pool;
• transaction-fee optimization;
• cross-chain portals for interacting with a wide range of DeFi solutions;
• modular risk controls;
• quick integration solutions with Aave.

The launch of the flagship Aave V3 application on Metis Network is an important event that lays the foundation for an efficient capital market. We look forward to jointly supporting DeFi projects and improving the Web3 economy, commented Kevin Lu, co-founder of Metis.

Metis is a scaling solution for Ethereum and for deploying smart contracts on the Metis Network. As of publication, the protocol is among the top five L2 networks by total value locked and offers users fees of less than $0.01.

Earlier ForkLog опубликовал a detailed overview of Metis Network and the technology of hybrid rollups.