The platform was originally launched on Ethereum L1 and quickly became one of the most important Decentralized Finance (DeFi) projects during the “DeFi Summer” of 2020, a period in which DeFi took the crypto ecosystem by storm in what would become one of the biggest bull runs seen by the crypto market.
However, despite Ethereum occupying the spot as the leading blockchain network at this time, the network has seen its block space supply grow increasingly scarce and limited, which has resulted in increased congestion and gas prices, which have affected the projects it initially helped succeed.
Aave Sees Polygon as a Solution
Now, Aave’s integration with Polygon will allow users to enjoy more scalability, faster transactions, and lower gas prices that will boost the platform to new levels as the crypto market continues to grow.
The move is the “first wave” in Aave Protocol’s “New Frontiers” exploration mission, which is aimed to allow it to build synergies with other projects and expand to a multi-market approach to secure the future growth of the protocol.
Using Sidechains with Polygon
This first wave will see the implementation of a scalable sidechain on Ethereum by using Polygon, increasing throughput and reducing fees, as well as allowing the collaboration with other DeFi protocols and projects by facilitating communication.
Polygon’s partnership with Chainlink will also allow the Avee protocol to provide better quality on price feeds by taking advantage of one of the best Oracle Networks in the current crypto ecosystem, improving the protocol’s current standards.
Aave users will also have access to MATIC, Polygon’s cryptocurrency, being able to use it as collateral in addition to other assets such as USDC, USDT, DAI, WETH, AAVE, and WBTC.
Many Fresh Features
This will be possible…