Aave v4 receives near-unanimous support from the DAO, and the deployment on the Ethereum mainnet is entering countdown.

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ChainCatcher message: On Monday, the Aave DAO approved an initial proposal with nearly unanimous consent, authorizing the deployment of the next-generation lending protocol Aave v4 to the Ethereum mainnet. v4 still needs to pass subsequent formal voting; at the outset, it will use conservative parameters and a streamlined asset allocation, prioritizing security.

The push for v4 previously sparked controversy within the DAO. Two major contributors, Bored Ghosts Developing and Aave Chan Initiative, both announced in succession that they would not seek renewal this year. Part of the reason was that Aave Labs had proposed pausing v3 optimization work and adjusting lending parameters to encourage user migration. Labs later withdrew that proposal and promised not to force migration.

At present, Aave v3 remains the largest lending protocol in DeFi, with user deposits of over $25 billion. Labs says v4 uses a hub-and-spoke architecture, which can support customized lending markets without splitting liquidity, and will significantly increase the DAO’s revenue potential.

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