Aave v4 receives near-unanimous support from the DAO, and the deployment on the Ethereum mainnet is entering countdown.

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ChainCatcher message: On Monday, the Aave DAO approved an initial proposal with nearly unanimous support, authorizing the deployment of the next-generation lending protocol, Aave v4, to the Ethereum mainnet. v4 still needs to pass a subsequent formal vote; at the start, it will use conservative parameters and a streamlined asset allocation, with a priority on ensuring security.

The push for v4 previously sparked controversy within the DAO. Two of the major contributors, Bored Ghosts Developing and the Aave Chan Initiative, each announced that they would no longer seek to renew their agreement this year. Part of the reason was that Aave Labs had proposed pausing v3 optimization work and adjusting lending parameters to drive user migration. Labs later withdrew that proposal and promised not to force migration.

At present, Aave v3 remains the largest lending protocol in DeFi, with user deposits exceeding $25 billion. Labs said that v4 uses a hub-and-spoke architecture, which can support customized lending markets without fragmenting liquidity, and will significantly increase the DAO’s revenue potential.

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