Aave Community Initially Approves Proposal to Deploy Aave V3 on Celo

PANews reported on May 20 that the Snapshot page shows the Aave community has voted with a 99.91% approval rate to pass the ARFC proposal to deploy Aave V3 on Celo.

The proposal suggests deploying Aave on Celo to expand Aave's real-world lending and green asset collateral to global users, and to provide incentives to guide liquidity. Upon approval by the Aave community, Aave will be deployed on Celo and suitable assets will be selected as collateral, including CELO, USDC, USDT, cUSD, and cEUR. This deployment will be supported by the Celo Foundation, either directly or through ecosystem partners, with $3 million in incentives over three years (with an option to extend).