Scroll, an Ethereum Layer 2 project leveraging zk-rollup technology, has put forth an intriguing proposition. It aims to deploy an Aave v3 Minimal Viable Product (MVP) on the Scroll mainnet, positioning Aave as one of the initial DeFi applications within the ecosystem. The move is set to unlock new possibilities for decentralized finance and mitigate potential risks for Aave.
Scroll has already generated significant attention and backing within the blockchain community, raising a substantial $83 million in funding through various rounds. Key supporters, including Polychain Capital, Sequoia China, Variant, and others, have displayed their confidence in the project, leading to a valuation of $1.8 billion. The upcoming mainnet launch of Scroll has become a highly anticipated event.
As an EVM-equivalent zk-rollup solution, Scroll aims to address Ethereum’s scalability challenges while maintaining robust security measures. From day one, the project has prioritized transparency, offering an open-source approach. Additionally, Scroll boasts an in-house security team, conducts thorough audits, and involves third-party provers in its mainnet genesis block. The gradual decentralization of the sequencer network further enhances the platform’s credibility.
The proposal to deploy an Aave v3 MVP on the Scroll mainnet stems from the desire to establish a strategic position for Aave within the evolving Scroll ecosystem. By granting Aave a prominent role early on, the proposal aims to leverage the momentum of over 150 projects set to launch alongside Scroll’s mainnet. This move will provide Aave with exposure to a thriving global ecosystem.
The proposed deployment of Aave v3 on Scroll mainnet features three collaterals—Wrapped Ether (WETH), USDC, and wstETH—and one borrowable asset, USDC. The risk parameters for these assets have been developed in collaboration with respected firms Gauntlet and Chaos Labs. If the proposal receives approval, further fine-tuning of the risk parameters will be sought during the Aave Risk Framework Committee (ARFC) phase.
The outlined risk parameters for the assets are as follows:
To further enhance security, Scroll commits to stake $500,000 worth of AAVE tokens in the Aave Safety Module, providing additional guarantees for the DAO.
The proposal marks a significant step toward expanding DeFi opportunities within the Scroll ecosystem. If approved, the deployment of an Aave v3 MVP on the Scroll mainnet will not only solidify Aave’s presence but also pave the way for future innovation and growth within the realm of decentralized finance.
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