Aave encourages project participants to join Ethereum PoS

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The Aave DeFi protocol team suggested that the project participants vote for the Proof-of-Stake chain after the merger of the Ethereum network, instead of recognizing any alternative fork.

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Preliminary testing has shown that the Aave protocol code will be fully functional after the transition of the Ethereum network to the Proof-of-Stake (PoS) algorithm. This confirmed the deployment of Aave V3 on the Ropsten and Goerli testnets.

The team involved in the development of the protocol came to the conclusion that it is almost impossible to maintain a viable Aave market on any of the Ethereum forks using Proof-of-Work (PoW).

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Although the formal position of Aave DAO will be determined by voting, the developers have stated that in order for the protocol to function smoothly, it must be tied to the Ethereum main network.

Recently, the Aave Companies team posted on the blog a request to the decentralized autonomous organization Aave DAO for reimbursement of the development costs of Aave V3 in the amount of $16.6 million.

Source: Bits

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