Following the initial TEMP CHECK and the successful snapshot vote here, Aave Labs and the Aptos Foundation have continued expanding their effort to bring Aave technology to its first non-EVM network. In their original proposal to the Aave community, the Aptos Foundation highlighted the potential benefits of an Aptos deployment, including high throughput, low fees, and enhanced security properties via the Move programming language. Aave Labs believes these factors make Aptos a promising environment for Aave’s first non-EVM deployment.
Additionally, Aptos has gone from just over $100M TVL to an all-time high of c. $1.8B TVL throughout 2024, demonstrating significant ecosystem growth and increasing its appeal as a high-potential network for DeFi adoption. Native support for USDC and USDT on Aptos was also announced last year, expanding the scope of familiar collateral types that would be available for this market, subject to Aave DAO’s risk providers assessment and community approval.
After many months of hard work, Aave Labs is excited to present a working implementation of Aave V3 on Aptos testnet. We invite the community to test it out as we continue development.
To access the Aave V3 testnet, download the Petra wallet, request APT tokens from the Aptos testnet faucet, and request market assets from the testnet UI faucet here. Once done, you’ll be able to test things out using any of the supported assets. Please direct any feedback while testing to the dedicated email: move@aave.com.
Bringing Aave V3 to Aptos was no small feat. Since Aptos is not an EVM-compatible chain, it required a complete rewrite of the Aave codebase in the Move programming language, rebuilding of the Aave Labs Interface as well as retrofitting Aave Protocol and its business logic into the Aptos VM.
Collaboration with Chainlink was pivotal for the Aptos testnet deployment. Together with the Aptos Foundation, we worked with the Chainlink team on production-ready price feeds for Aave V3 on Aptos.The process involved security researchers from the get-go, which allowed the team to nurture the security-first approach which is as always centric in the development of Aave.
Aave Labs will leverage the testnet phase to rigorously validate the Move implementation of Aave V3’s safety, stability, and performance before the mainnet launch, subject to governance approval. During this phase, we’ll continue to work closely with the Aptos team, security researchers, and auditors to uphold security processes.
Specifically security audits with Certora, SpearBit and OtterSec are already planned, as well as a security contest once the auditing phase is complete. Other unplanned activities around security may be evaluated over time and will be timely communicated to the DAO and service providers.
We will also collaborate with Chainlink on oracle and CCIP support and engage with other Aave DAO service providers to determine the scope of infrastructure and tooling required for the Aptos mainnet deployment.
For now, the proposal remains in its approved TEMP CHECK phase while the testnet undergoes thorough evaluation. Once testing is complete, the proposal will proceed to the ARFC stage and, if approved, to the AIP phase for final governance review and approval.
We will share more updates as progress continues. In the meantime, the development code for Aave V3 on Aptos can be found here as we transition to building this version in public going forward. As a new architecture and language for the Aave DAO, we want the Aave ecosystem to follow us on this journey and contribute valuable feedback along the way.
Aave Labs