[TEMP CHECK] Aave V3 Deployment on Linea Mainnet

Governance
1

Title: [TEMP CHECK] Aave V3 Deployment on Linea Mainnet

Authors: @fig – Flipside Crypto & @DAOstrat.C - Consensys / Linea

Date: 07-13-2023

Contact:

Governance@Consensys.net
Calendly Link: Book time to discuss this proposal

This forum thread aims to establish a formal line of communication regarding an Aave deployment on Linea mainnet and Initiate a Tempature check. This includes insights and recommendations gained from completing an ongoing testnet deployment, which was recently approved here.

We aim to develop this proposal transparently as we proceed with further integration and gather more robust network metrics. As it currently stands, there is yet to be a fixed timeline for advancing this proposal to a vote. Nonetheless, the team anticipates progressing discussions to subsequent stages of governance by mid-to-late August.

Simple Summary

Following a successful deployment of Aave V3 on the Linea testnet, this proposal seeks community feedback on an “MVP” Mainnet deployment. It further advances Aave’s relationship with Linea and lays the framework for future mainnet once live.

This proposal is not final and will be updated as technical implementation strategies and recommendations become available.

Background

Linea is a scalable L2 on top of Ethereum powered by a zkEVM tech stack incubated by ConsenSys, resulting from over 5 years of internal cryptography advancement and 20 months of R&D from Consensys’s research team. This team has a track record of successful projects in the zk space, including the GNARK library and active involvement in the Merge. Moreover, Linea is well-connected with developers in the broader ecosystem through existing relationships with MetaMask, Infura, and Truffle. The tech stack that powers Linea aims to support a wide ecosystem extending Ethereum Mainnet capabilities. It intends to align its onboarding and distribution with these products to better serve developers, protocols, and builders.

Linea is committed to decentralization and open-source contribution, as shown by a commitment to open-source the software once the network is fully decentralized. The team is currently working on decentralizing the prover and sequencer and has a tentative timeline to implement solutions over the next 12 months.

Since the launch of Linea’s mainnet (Alpha), over 100 partners are working on deploying their Dapps for public release. These partners include major infrastructure, DeFi, Data services, security, NFT tooling, and wallets.

An example of a partial list of these partners is found below.

|548.3761663043992x346.38966281791863

Motivation

Linea allows Aave to leverage the distribution created by Consensy’s product suite. Linea prioritizes User Experience (UX) to create seamless on-ramps and on-chian resources. It taps MetaMask’s impressive community of 30M MAUs. Linea will be supported in the default MetaMask network dropdown list, enhancing user convenience and fully supporting all MetaMask curated experiences. These product integrations include: On/Off Ramp, MetaBridge, MetaMask Swaps, the Portfolio dApp, and the MetaMask SDK, presenting numerous opportunities for incorporating the Aave protocol.

These benefits of Linea combined with Aaves impressive push for a cross-chain future, provide an exciting opportunity to grow the user base of the protocol, increase TVL, and capture market share.

Key Aave Benefits

Some key benefits to Aave regarding a mainnet deployment include:

  1. Establishment of Aave markets and $GHO on Linea - Linea’s integration with the ConsenSys product suite provides Aave access to a vast and well-established user base of 30+ MAU across products that will facilitate distribution and onboarding for the Linea network. This enables smoother distribution and adoption of Aave markets and $GHO. The strategic alignment bolsters Aave’s market reach and stimulates fresh opportunities for user engagement, ultimately contributing to Aave’s growth and visibility.

  2. Being a Linea Launch Partner - Consensys is organizing a significant promotion for the Linea mainnet expected at EthCC. This includes marketing initiatives, partner highlights, IRL, and online presence well into the year-end.

  3. Incentives for the Protocol - Adhereing to our transparency policy, the Linea team is exploring options of temporary contribution to the Safety module and sequencer rebates for the protocol. At this time, there are no further details to share on this topic. The community can expect an update on this as the proposal develops over the next ~month.

Specification [To be updated]

This proposal presents Aave governance with the opportunity to deploy Aave V3 on the Linea mainnet. This section is left blank until the Linea team gathers information from the upcoming testnet deployment and network information. The team will bring in key stakeholders for review at the appropriate time.

Disclaimer

  • Linea has not compensated Flipside to create and consult on this proposal.
  • All information provided above is directly from public sources or the Linea team.
  • This TEMP CHECK has been prepared solely to facilitate community discussion.

Next Steps

Proposal Update: Follow the process of testnet deployment, incorporating subsequent adjustments to the proposal by adding details on timeframes and technical aspects as they become available.

Temperature Check: Gather community feedback and assess sentiment towards the proposal of deploying Aave V3 on Linea Mainnet.

ARFC: If the Temperature Check Snapshot indicates positive sentiment, proceed to the ARFC stage for further discussion, risk parameter evaluation network analysis, and proposal finalization.

AIP: If the ARFC stage Snapshot is successful, submit the proposal as an AIP for voting and on-chain governance approval.

Copyright

Copyright and related rights waived via CC0.

References

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Thanks for this proposal @fig & @DAOstrat.C. Excited to see Linea’s launch overall and it is clear that both Aave and Linea will benefit from a deployment on Mainnet.

We’re supportive of this!

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