Aave is the core decentralized finance (DeFi) platform. Deployed on 13 different blockchains, TVL has nearly $17 billion, making it the second largest DeFi protocol. Historically deployed on EVM-compatible blockchains, Aave could well float on Bitcoin’s 2nd layer.
- Aave was considering a potential deployment on Spiderchain, the second layer of Bitcoin developed by Botanix Labs.
- This deployment proposal aims to integrate DeFi into Bitcoin and diversify the Aave ecosystem.
Aave Soon Deployed on Spiderchain, Bitcoin’s L2?
Wednesday, November 13 an Aave Chan initiativea body highly involved in Aave’s governance decisions, submitted a new governance proposal to Aave DAO.
The aim of this proposal is therefore to find out the opinion of the community on a deploying Aave on Spiderchain, Bitcoin’s layer-2.
“The purpose of this TEMP CHECK is to gauge the Aave community’s interest in deploying Aave V3 on Spiderchain, the leading L2 Bitcoin EVM developed by Botanix Labs. »
However, it is important to note that this the proposal is still in its infancy. Indeed, the Aave Chan initiative has published a “temperature check” which, as its name suggests, allows the temperature to be measured by community opinion.
“Botanix Labs offers this integration to develop Aave within the emerging Bitcoin DeFi story, with the first Bitcoin L2 having a complete DeFi ecosystem and the largest user community. »
As explained in the publication, on the one hand, it could enable diversify the different forms of Bitcoin available on Aave. On the other hand, it looks like Botanix, the developer of Spiderchain, is thinkingintegrate Aave’s GHO stablecoin in its ecosystem.
Spiderchain: the layer-2 that brings DeFi to Bitcoin
Spiderchaindeveloped by the company Botanix Labsis a layer-2 deployed on Bitcoincompatible with the Ethereum Virtual Machine (EVM).
Under the hood, Spiderchain is based on a hybrid structure. On the one hand, it uses Bitcoin as a settlement layer and its Proof of Work. On the other hand, layer-2 adopts a Proof of Stake model where users can stake your BTC contribute to L2 security.
Like Ethereum layer-2, Spiderchain uses the native token of its L1 as a gas token, in our case BTC.
Last August protocol Aave floated off towards the next layer-2, zkSyncthis time belonging to the Ethereum ecosystem. In the face of the proliferation of layer-2, it seems that Aave wants to maintain its core position in decentralized finance.
