The Aave DAO has approved the activation of the lending protocol on Aptos, a Move-based Layer 1 blockchain.
Aave, a decentralized finance (DeFi) powerhouse with over $20 billion in total value locked (TVL) across more than a dozen blockchains, is set to launch on Aptos after a governance proposal to approve the integration achieved quorum, founder Stani Kulechov revealed in an X post on Monday.
According to the results, 393,000 AAVE tokens backed Aave’s launch on Aptos, with none opposing. The expansion marks the first time the lending protocol giant will operate on a non-Ethereum Virtual Machine (EVM) blockchain.
“Bringing the Aptos market under [the Aave] DAO will leverage Aptos’s high throughput, low transaction fees, and the Move programming language’s security features to enhance Aave’s protocol performance and broaden its user base,” the proposal reads.
The Aptos version of Aave V3 has already been deployed to testnet, using code written in Move, a programming language originally developed by Meta.
The deployment was handled by Aave Labs and follows the project’s Aave 2030 roadmap, which aims to expand the protocol beyond Ethereum-compatible networks. The first phase will support native Aptos (APT), USD Coin (USDC), Tether (USDT), and Ethena Staked (sUSDe), per the integration plans.
Still, some in the community have raised concerns. Because this is Aave’s first non-EVM deployment, a bug or exploit could undermine trust in the protocol across all chains, not just Aptos, wrote one X user, 0xobsessed.
Aptos currently holds over $970 million in total value locked, making it the 12th-largest chain by that metric, according to data from DefiLlama. Launched in 2022, Aptos Labs has raised a total of $400 million, split evenly between a seed round and a Series A. The ecosystem secured funding from Andreessen Horowitz, Apollo Global Management, and Franklin Templeton, among others.
