Aave Launches v3 on Sonic Mainnet, Expanding DeFi Reach!

Jakarta, Pintu News—Aave, one of the leading decentralized finance protocols, has officially launched version 3 (v3) on Sonic’s mainnet. This announcement was made on March 3rd, marking a major step in Aave’s expansion in the DeFi ecosystem.

The launch was followed by a governance proposal to bring the Aave lending market to the Sonic network, previously known as Fantom.

Check out the full news below!

Aave’s expansion into Sonic

Sonic Labs launched its layer-1 mainnet in December 2024. In the same month, Aave DAO delegate Aave Chan introduced a v3-to-Sonic governance proposal. The AAVE community approved the proposal, which paved the way for this launch.

Aave’s presence on the Sonic network marks their first expansion of the year, strengthening their presence in the wider DeFi ecosystem. The launch provides lending opportunities for Sonic users, who can now earn DeFi-related incentives at Aave.

Also read: SEC Investigation Closes Against Yuga Labs: What Does It Mean for the NFT Industry?

Incentives for Early Users

According to the announcement on X, Aave and Sonic Labs are offering incentives of $15 million in S tokens and $800,000 in AAVE tokens for early adopters.

Users can access this opportunity through a list of initially supported assets, including US Dollar Coin (USDC), Wrapped Ethereum (WETH), and wS.

This initiative is expected to attract more users to the platform and increase the volume and activity within the Aave ecosystem.

Also read: Led by Commissioner Hester Peirce, SEC’s New Team Ready to Revolutionize Crypto Regulation!

The reason behind the launch at Sonic

Aave has been deployed in several new and promising EVM L1 and L2 networks, often being one of the largest protocols on those networks. The team that built Sonic has an impressive history, and the innovation they promise makes them a strong candidate for the launch of Aave v3.

In addition, monetizing application fees has the potential to be an additional revenue source for Aave. This approach demonstrates Aave’s commitment to innovation and adapting to an ever-evolving market.

Conclusion

With a total locked value of over $18.7 billion, Aave continues demonstrating its strength in the DeFi market. Since its launch in 2018 on Ethereum, Aave has expanded to various other networks such as Polygon, Arbitrum, Optimism, and Base, as well as BNB Chain, Avalanche, and Gnosis Chain.

This expansion confirms Aave’s position as a leader in DeFi innovation and its commitment to providing safe and reliable services to its users.

That’s the latest information about crypto news today. Get more information about crypto academy from beginner to expert level only at Pintu Academy and enrich your knowledge about the world of crypto and blockchain.

Follow us on Google News for the latest updates on crypto and blockchain technology. Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now.

Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Click Register Pintu if you don’t have an account or click Login Pintu if you are already registered.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Aave Expands DeFi Reach with V3 Launch on Sonic Mainnet. Accessed on March 5, 2025
• Featured Image: Crypto Economy