Aave Protocol Calls for Ethereum PoS Merge Commitment
DeFi protocol Aave has requested its token holders to participate in an Aave Request for Comment (ARC), urging them to commit to Ethereum’s (ETH) Proof of Stake (PoS) merge.
Aave Companies have proposed this ARC that calls for the Aave DAO to commit to selecting the Ethereum Mainnet running under the Proof of Stake consensus https://t.co/eDGwjLFKz7
— Aave (@AaveAave) August 16, 2022
According to the document:
“The Aave DAO to commit to selecting the Ethereum Mainnet running under the Proof of Stake (PoS) consensus over any Ethereum fork running an alternative consensus.”
The proposal aims to make the deployment on the Ethereum PoS mainnet the official governance of the Aave DAO and markets, granting the community the authority to cease Aave Deployments on post-merge Ethereum hard forks.
It was mentioned that the Aave protocol code has run successfully on Ethereum PoS, with Aave V3 deployments on Ropsten and Goerli testnets performing well.
Furthermore, the document emphasized the importance of committing to Ethereum PoS to ensure the sustainability of the Aave protocol in the market.
The vote outcome will reflect the DAO members’ consensus on the transition to PoS.
Support for Ethereum Merge Grows Among Top DeFi Platforms
The Ethereum Mainnet is set to transition from proof-of-work (PoW) to proof-of-stake (PoS) through the highly anticipated Ethereum Merge. Many in the Ethereum community await this change with excitement, although it has sparked debates about PoW hard forks post-merge.
Aave, as one of the leading DeFi platforms, has endorsed the merge, joining other major protocols like Chainlink (LINK), USDC issuer Circle, and Tether in supporting the migration.
With a total value of $5.44 billion in assets locked on the Ethereum mainnet, Aave also operates on networks such as Polygon (MATIC), Avalanche (AVAX), Optimism, Harmony, and Fantom (FTM).
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