Aave v3 goes live on Celo, expanding DeFi to mobile-first users

Aave V3 was launched on Celo, widening DEFI access to Celo mobile users and opening the platform to broader growth of users.

The latest version of the AAVE loan and loan protocol (GHOST) V3 just spear On Celo, according to the crushing AAVE Community approval.

With this integration, Celo (Even)) Users can now lend, borrow and win marked assets. More specifically, deployment will support Celo, Tether (USDT) and a USD part (USDC) for guarantees. For the loan, he will also support Cusd and Ceur.

“Celo was built to provide individuals and communities around the world accessible and effective financial tools, and the launch of Aave is a major step in the delivery of this mission,” said Isha Varshney, chief of the Celo Foundation ecosystem.

For Aave, integration with Celo has the potential to bring new users, in particular mobile retail users – because Celo is mainly aimed at the mobile public.

“This deployment of Aave on Celo will potentially bring a large community of new people in the Aave ecosystem, reaching mobile users first on emerging markets, connecting active world to DEFI and accelerating the use of stablecoins for simple transactions,” said the founder of Aave Labs, Stani Kulechov.

AAVE V3 Washing spear in March 2022. went to live on Ethereum (Ethn) Mainnet in January 2023. Subsequently, it was also integrated FitAvalanche, polygon, referee, ZKSYNC was MAINNETAnd Sonic (Previously known as Fantom).

Despite the announcement, Celo and Aave are down 0.25% and 1% respectively, aligning with the wider slowdown in the market as price always weigh on the industry.