Deploy Aave v3 on Neon EVM Chain

Governance New Market
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TL;DR
To support Aave’s multichain mission and expand cross-chain experiences, the Neon Foundation proposes the deployment of Aave V3 to Neon EVM. We would like to gauge the interest from the Aave community in deploying to Neon EVM devnet, and would greatly appreciate your feedback.

This post is only intended to be an introduction and community temperature check; we will submit a more detailed proposal for deployment at a later date.

  • Neon EVM is the EVM on Solana (currently on devnet), which enables Ethereum-based applications to have access to Solana’s scalability and liquidity without any changes to their codebase.
  • Neon EVM is a smart contract on Solana. Solana is a fast-growing blockchain (https://www.forbes.com/advisor/investing/cryptocurrency/what-is-blockchain/), Neon EVMs performance has been tested through multiple use cases, and the platform now includes the infrastructure and capabilities to support production level development. Notable Ethereum-based projects starting to build on Neon include Curve and Sobal (Balancer friendly fork).
  • Neon EVM has over 200 projects in its pipeline committed to launching shortly after the launch of mainnet, including blue-chip DeFi protocols, wallets, bridges, fiat on/off ramps, infrastructure, DAO tooling, etc. The focus in the early stages will be providing the infrastructure and technical dependencies needed for a breadth of use cases to expand from EVM chains to Solana.
  • Looking beyond mainnet, the plan is to develop interoperability with Solana smart contracts, full ecosystem compatibility, integration with additional major Ethereum tools and services, EVM support for Saga and an early grants program.
  • Deploying on Neon EVM will onboard new users & increase user activity on Aave by decreasing costs compared to Ethereum and enabling users to take advantage of Solana liquidity and access to the overall ecosystem

Resources
Documentation: Neon Docs

Audits:

Audience:

The Neon Foundation welcomes feedback from the community on the proposal, including suggestions on how it can be improved.

About Neon EVM
Neon EVM is an Ethereum Virtual Machine (EVM) built into a Solana smart contract, enabling Ethereum developers to build on Solana and access its native ecosystem without changing their codebases. Neon EVM facilitates the usage of Ethereum tooling by dApp developers to scale and access unaddressed liquidity on Solana. Developers can utilize the vast majority of Ethereum dev tools

Proposal
There’s significant value in Aave V3 being available on Neon EVM (EVM on Solana), which will enable Aave to access unaddressed users, TVL, community and ecosystem of Solana. Solana is a high throughput proof-of-stake blockchain with:

  • 0.4 second block times and 1-2 second confirmation times
  • $0.001 transaction fees
  • 3,000+ independent and globally distributed validators
  • 5,000+ total projects deployed and 900+ daily active programs
  • Close to 1.0 million active wallets per day over the last 30 days
  • More than 100 billion transactions processed since inception

Despite current market conditions and the FTX situation, Solana’s ecosystem demonstrates strong growth and resiliency. Continuous innovation is happening within the ecosystem and new projects / tools are rolling out on a continuous basis.
The Neon EVM ecosystem is already experiencing solid and fast growth: established projects like Curve, Sobal (fork of Balancer), Onomy, Powerpool have committed to launch along with over 100 more projects and infrastructure players like Pyth Network, The Graph, Covalent etc. We are also working on integration with Chainlink. For bridging, initially, we will be using Wormhole; nevertheless, since diversification is part of our core values, we would like to welcome the feedback from the Aave community on this matter.
The team plans to create programs to attract builders and fund their initiatives to accelerate the adoption of the network. Since we are big advocates of transparency and encourage it within our community / ecosystem, we would truly appreciate transparent feedback from the Aave community regarding the interest in deployment on devnet.

Conclusion
Neon EVM is the most awaited and anticipated innovation to the Solana ecosystem, and is positioned as a pioneer & at the forefront of making this a reality. The commitment to bringing together the best of both chains, security and the safety of users is absolutely paramount, and there have been no shortcuts in ensuring the utmost quality controls for this. Neon EVM has been audited by numerous prominent auditors such as: Hallborn, Ackee Blockchain, Neodyme

The Neon Foundation team believes that the Neon EVM solution will prove itself to be the most robust and reliable solution for a market like Aave, and as such is ready to onboard Aave to its ecosystem and looks forward to the opportunity to build a long-term, sustainable, and mutually beneficial relationship.

Truly appreciate your feedback,

Neon Foundation

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