Aave encourages project participants to join Ethereum PoS

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The DeFi protocol team Aave invited project participants to vote for the Proof-of-Stake chain after the Ethereum network merge, instead of recognizing any alternative fork.

Preliminary testing has shown that the Aave protocol code will be fully functional after the Ethereum network transitions to the Proof-of-Stake (PoS) algorithm.This confirmed the deployment of Aave V3 on the Ropsten and Goerli testnets.

The team involved in the development of the protocol came to the conclusion that it is almost impossible to maintain a viable Aave market on any of the Ethereum forks that use Proof-of-Work (PoW).

While the formal position of the Aave DAO will be determined through a vote, the developers said that to ensure the smooth functioning of the protocol, it must be pegged to the Ethereum mainnet.

Recently, the Aave Companies team posted a request to the decentralized autonomous organization Aave DAO on a blog post for reimbursement of the costs of developing Aave V3 in the amount of $16.6 million.