Fantom Foundation – Proposal to Launch Aave on Fantom
Fantom proposes deploying Aave v2 on the Fantom Opera blockchain to expand lending to the Fantom community and, with the provision of incentives, bootstrap the launch of Aave on a new ecosystem.
Summary
Fantom is an open-source, EVM-compatible blockchain that offers fast finality and low transaction fees. Openness and accessibility are core Fantom values that they practice through a cross-chain strategy that aligns with Aave goals. Examples include the token bridge Multichain.xyz, which Fantom developers including Andre Cronje, helped to launch.
To sustain rapid growth across the DeFi space, the Foundation recently launched a 370M FTM incentive program for developers. Upon reaching minimum TVL requirements, Aave will be eligible for incentive rewards to be used to grow the protocol on Fantom, including by incentivizing end-users.
Aave
users can lend and borrow cryptocurrency across 20 different assets as collateral.
The protocol has a native token called AAVE, which is also a governance token that lets the community decide the direction of the protocol in a collective manner.
Lenders can earn interest by providing liquidity to the market, while borrowers can borrow by collateralizing their cryptoassets to take out loans from the liquidity pools.
