Aave Launches version 3 on Sonic Mainnet
Aave has expanded its version 3 network to the sonic mainnet, as announced on March 3. This move brings Aave’s decentralized finance (DeFi) protocol to the Sonic network, formerly known as Fantom.
The deployment was managed by Web3 platform bgdlabs, wiht risk assessments conducted by Chaos Labs and LlamaRisk. Chainlink, an on-chain finance and oracle platform, provides price feeds for the new integration.
Aave’s expansion to Sonic marks its first major move of the year. It introduces borrowing and lending opportunities for Sonic users, who can now earn DeFi incentives on Aave. The Aave and Sonic Labs teams are offering $15 million in S tokens and $800,000 in AAVE tokens as incentives for early adopters.
Supported assets include USDC, WETH, and wS. Aave Chain Initiative explained that Sonic’s remarkable history and innovations make it a strong candidate for Aave V3 deployment.Additionally, fee monetization for apps coudl be an extra income source for Aave.
Sonic Labs co-founder Andre Cronje believes Sonic is unique as users get paid for the activity they create. Aave currently has a total value locked of over $18.7 billion, down slightly from its peak of $22 billion in December 2024.
Since its launch in 2018 on Ethereum, Aave has expanded across multiple networks, including Polygon, Arbitrum, Optimism, Base, BNB Chain, Avalanche, and Gnosis Chain.
