Why Aave v3's New Portal Feature Could Be a Game-Changer

The next generation of the Aave protocol could change the game. Here's why. Read the full article by: Liam J. Kelly

Key Points:

• Aave is one of the biggest players in Defi currently with a $4.1 billion market cap. They are the the most popular platform for lending and borrowing of multiple assets and can be used on the Polygon and AVAX blockchains.

• One of the main functions of the Aave token is that it gives holders governance and a vote on what happens in the network. Holders used that power today to pass into effect Aave V3 bringing new features to the network.

• A lot of the worries surrounding defi products like Aave is that protocols have been getting hacked left and right this year. That is what makes Aave stand out is that they are so well trusted and always working on the network to prevent something like that from happening.

• The Portal update will make Aaves liquidity accessible on other networks which will benefit many users looking to lend or borrow as they can leverage one of the bluechip defi products without having to rely solely on Ethereum. Doing this will mitigate the need for projects like Cream finance which is already doing something similar to this. Cream is a popular dapp but they have been subject to hacks in the past which will cause some of those users to transition to the a more trusted platform like Aave.