AAVE V3 Wants to Take on the DeFi Mainstream and is now available on DePocket’s Dashboard
The AAVE Protocol is a decentralized non-custodial liquidity protocol where users can participate as suppliers, borrowers, or liquidators. Suppliers provide liquidity to a market and can earn interest on the assets provided. At the same time, borrowers can borrow in an overcollateralized way and also engage in flash loans, which do not require over-collateralization. V3 allows users to optimize their assets supplied to AAVE regarding yield generation and borrowing power.
DePocket is really happy to integrate AAVE v3 on the Optimism chain. Before talking about what benefits users can expect, it’s important to understand the unique selling points first.
- Portals: the portals offer ‘permit listed‘ bridges. These clear the way for cross-chain transactions. As a result, assets can now move without experiencing problems between various networks.
- High-Efficiency Mode: This gives a higher borrowing potential, where borrowers can now use their collateral to the max. For example, with high leverage forex trading, but also with more productive yield farming.
- Isolation Mode: AAVE governance can list new assets as ‘isolated’. They have a fixed debt ceiling, and you can only use them as collateral. Furthermore, you can’t use any other assets as collateral. Although, you can add other assets, only to get more yield. You can only use specific coins, like stablecoins. As a result, the protocol limits risk and exposure to these new assets.
After this integration, users can track their balance on the Optimism chain, through the DePocket app. We will integrate AAVE v3 on more chains soon. We understand that the more convenient our app becomes, the better investment decisions our users can make.
We aim to make the DePocket app your go-to investment tool that offers the support and convenience you’re looking for.
Try our demo wallet here: https://app.depocket.com/addresses/0xc948eb5205bde3e18cac4969d6ad3a56ba7b2347
The crypto winter will soon pass away, so get yourself ready for the many exciting improvements and changes to come.
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