We are excited to announce the launch of the Aave v3 EtherFi Instance, a significant milestone in EtherFi and Aave’s partnership. This new deployment will provide users with enhanced capabilities and improved liquidity options with an isolated market that will support EtherFi assets, specifically weETH.

This new instance leverages both the strengths of EtherFi and Aave to create the best protocol to borrow various stablecoins against weETH. Integrations from FRAX, Sky protocol and Aave’s GHO are some of the stables discussed by Aave governance so far.

As a result, this new instance required significant coordination across Aave DAO Service Providers, demonstrating how decentralized collaboration is possible in mature DAOs like Aave. An overview of this process is shown here.

https://lh7-rt.googleusercontent.com/docsz/AD_4nXcRYVuKGltT7zEaTqY8yjooYVFye8xG6QTzxclX0FtyWFbtLuHBDT8qLW73rBbZ2gJVklnsVVXre8xsGTvdAzUIIlk1HZeVbRCK7th6Xk4aUY2JKo1h-4ZL53uEgFxm7nEAshcxFQTUrhiSJyOvvy7vAG2f?key=s6v83vDIOIo5lCQBkTVzEA

EtherFi will be offering targeted incentives to grow the new instance.

Mike Silagadze, CEO of EtherFi said, “We are very excited about our isolated market on Aave. Users get the benefit of borrowing stables against their ether.fi assets. Additionally, this market will be a key cog in our ether.fi cash product, allowing users to make real world purchases while borrowing against their crypto. We look forward to continuing to push the boundaries of what crypto can do with great partners like Aave!”

The EtherFi Aave v3 instance is currently live and available on the official Aave UI: https://app.aave.com/markets/?marketName=proto_etherfi_v3