Share this article
DeFi Lender Aave Deploys Version 3 on Ethereum Network
Aave v3 allows users to benefit from the highest borrowing power out of their collateral.
Updated May 9, 2023, 4:06 a.m. Published Jan 27, 2023, 12:03 p.m.
Make us preferred on Google
Decentralized lending and borrowing protocol Aave has deployed its third version on the Ethereum network following unanimous support for a governance proposal.
The Aave v3 upgrade will focus on mitigating user risk and improving capital efficiency (High Efficiency Mode) when staking or borrowing correlated assets like stablecoins and liquid staking derivates (LSDs). Liquid staking derivatives are derivative contracts that allow users to retain liquidity of an asset while staking it for a reward.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
High Efficiency Mode, also called eMode, allows users to capitalize on the highest borrowing power out of their collateral for correlated assets. Users can now leverage larger amounts of assets like wstETH (wrapped staked ether) and stake it on the Ethereum blockchain for rewards.
The upgrade is also focused on gas optimization, with Aave stating that it will reduce gas costs across all functions by 20%-25%. Gas is a transaction fee on Ethereum that is paid to validators.
The Aave protocol has $4.56 billion in total value locked (TVL), an increase of 23.37% over the past 30 days, according to DeFiLlama.
The Aave token , which can be used as collateral on the platform, is trading at $86.73, little changed in the past 24 hours.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Tokenization firm Securitize reports 841% revenue growth as it prepares to go public
With crypto prices and crypto-related stocks in the midst of a major selloff today, Securitize SPAC merger partner Cantor Equity Partners II is higher by 4.4% on the news.
What to know:
- Securitize continued toward an ultimate public listing via a SPAC merger with Cantor Equity Partners II (CEPT).
- The company reported an 841% year-over-year increase in revenue to $55.6 million for the nine months ended September 2025.
- CEPT stock gained 4.4%, outperforming sharply lower crypto markets.
Top Stories
