With a $63 million cash commitment, Aave governance is considering an ARFC plan to introduce V3 to Sonic.
If a new governance proposal is approved, Aave may be moving to Sonic, an EVM-compatible blockchain network from the developers of Fantom. The Aave Request for Comment #8d417, which the Aave Chan Initiative sent in on January 31, highlights Sonic’s fee-sharing mechanism and fast transaction speeds as the primary deployment motivations.
Aave May Move To Sonic If Approved
A $63 million liquidity promise, comprising a $15 million financial pledge from the Sonic Foundation, $20 million in Circle’s USDC, and up to 50 million $S tokens (about $27.15 million), would accompany the move if it is authorized by February 4. Additionally, Aave would provide $800,000 in stablecoins.
ACI claims it is frequently one of the most significant protocols on these networks and has been implemented on several exciting new L1 and L2 EVM networks. It is a strong contender for V3 deployment, given the team’s stellar track record of creating Sonic and the advancements it promises.
An ARFC vote is open as the governance process moves into its next phase. The community accepted the first temporary expansion into Sonic in December. Before a final vote, a more thorough risk assessment will be conducted if this revised plan is approved.
