Aave Labs, a company associated with the Aave landing platform, presented a draft roadmap for the creation of the fourth version of the protocol.
"Aave V4 marks significant progress in DeFi in the context of capital efficiency, risk management and scalability," the statement said.
It is assumed that Aave V4 will be built on a "completely new architecture" that will include a "unified cross-chain liquidity layer" (CCCL). The latter will allow for better integration of functions such as isolation pools, risk modules and GHO's own stablecoin.
Data: Aave.The proposal implies assistance in the development of RWA based on Aave's "stable coin", support for deployment on blockchains other than EVM and a "fresh visual style," the team said.
Data: Aave.A single pool of liquidity
CCCL based on CCIP from Chainlink will allow "borrowers to access instant liquidity on all supported networks."
Data: Aave.The roadmap reveals the developers' plans to automate the calculation of interest rates for loans and part of the DAO management process.
In particular, there will be automatic adjustments to the interest rate curve, dynamic allowances based on collateral risk profiles, smart accounts and vaults to simplify position management.
The developers proposed to include variable bonuses for liquidation and "soft" liquidation in the GHO liquidation mechanisms, as well as an emergency repayment mechanism in case of a deposit. Among other innovations is the receipt of interest by token holders.
Deadlines
The update will be part of a broader initiative called Aave 2030, which aims to radically transform the interface and functionality.
Data: Aave.The proposal is at the "temperature check" stage, which gives a signal about the mood of the community before proceeding to the on-chain vote.
The document outlines the development timeline, starting with the completion of research in the second quarter of 2024, prototyping in the fourth quarter and ending with the full release of V4 by mid-2025. CCLL will start operating before 2026 or 2027, the team warned.
The proposal also describes plans to launch the Aave Network, which will play the role of the main hub for the protocol and GHO.
Data: Aave.Switching to L2
Aave is also considering: the possibility of using an architecture like Validium on the network, accepting GHO as a network token to pay for services, as well as using AAVE as the main stable fund for decentralized validators and sequencers.
The decision will be made based on the evolution of L1 and L2, but Aave Network will inherit its security from Ethereum, the developers stressed.
The authors of the proposal requested a budget of 15 million GHO and 25,000 stkAAVE (~$17 million in total) for the implementation of the first year of the three-year plan.
According to DeFiLlama, Aave is the third largest DeFi protocol with a TVL of $10 billion. The capitalization of GHO is $50.97 million, according to CoinGecko.
Data: DeFi Llama.Recall that in January, participants of the Aave management forum proposed an extension of the third version to Neon EVM.
In February, Gauntlet, a company specializing in risk management in DeFi, announced the termination of cooperation with the landing platform.