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Aave v3 deployment on Neon EVM is a proposal under consideration by the Aave governance forum.

The Neon Foundation and the Aave Chan Initiative submitted the proposal.

It is now seeking input from the Aave community and is in the "temperature check" stage.

Version 3 of the Aave AAVE -1.03% lending protocol is being considered by the governance body for possible deployment on Neon EVM, a platform for smart contracts that allows Ethereum dApps on the Solana SOL -5.41% network.

This project, which was created by the Neon Foundation and Aave Chan Initiative, a contributor to Aave, aims to initially provide a minimal viable product (MVP) that extends Aave's lending services on the Solana blockchain. Members of the Aave community are presently able to voice their opinions and provide comments on the proposed integration during the "temperature check" phase.

The plan suggests implementing conservative risk parameters and introducing assets gradually. Specifically, it identifies three types of collateral — SOL, mSOL, jitoSOL — and a single borrowable asset, USDC.

Should the deployment be authorized, Solana's money would be made available to Aave for its lending services. The proposal states that Aave v3 has already been made available on the developer-focused testnet (devnet) of Neon EVM.

The proposal will move to the next round and an on-chain vote will be held to make the final decision if it receives enough initial support.

The third major version of the Aave protocol, which allows users to lend and borrow different cryptocurrency assets, is called Aave v3. Aave is a decentralized, non-custodial liquidity market system.

Over $5 billion is tied up in Aave v3 loan pools on ten different blockchains, with $4 billion of that total being on Ethereum.