Aave officially deploys Sonic! Continuously expanding the multi-chain ecosystem, the total on-chain lock-up amount has exceeded 17 billion US dollars

Crypto circle (120BTC.cOM) News: Ethereum lending protocol Aave announced on Twitter on 3/4 that its lending market will be officially deployed on Sonic, marking an important expansion plan for the first entry into L1 in 2025. This deployment was approved by the Aave governance community and driven by the Aave Chan Initiative (ACI) proposal.

Aave officially deploys Sonic, providing $15 million as liquidity support

Sonic officially launched its mainnet in December 2024. Currently, the on-chain total value locked (TVL) has exceeded $7 billion(, and it focuses on high efficiency and innovative ‘transaction fee sharing mechanism,’ allowing DeFi lending protocols like Aave to generate additional income through transaction fees generated by users.

Aave founder Stani Kulechov said: ‘Sonic focuses on an innovative revenue sharing model and has a strong technical team, which is an extremely attractive expansion opportunity for Aave, allowing us to participate in a growing DeFi ecosystem.’

In order to support Aave in successfully deploying Sonic, the Sonic Foundation has pledged to provide $15 million in funding, 50 million Sonic native tokens, and $800,000 in stablecoins as liquidity support and rewards.

Exiting Polygon, Choosing to Withdraw from the Chain to Protect Community Security

Aave’s decision to enter Sonic comes at the same time as the termination of its lending business on the Ethereum sidechain Polygon. This decision is mainly based on the risk assessment by the Aave governance community, as Polygon has proposed a proposal to re-pledge stablecoins through the cross-chain bridge )Native Bridge(, which may bring risks.

Despite Polygon’s final rejection of the proposal, Aave still insists on its original decision and believes that the risk factors of Polygon still exist. In order to protect the safety of community funds, they choose to withdraw from Polygon. Kulechov stated: ‘The Aave community places great emphasis on risk management. After community discussion, we believe that the current risks are sufficient to stop our operations on Polygon.’

Aave continues to expand its multi-chain ecosystem, with TVL surpassing $17 billion

Since Aave was launched as an Ethereum sidechain in 2018, it has gradually expanded to multiple blockchains, such as Arbitrum, Base, Optimism, Metis, Scroll, and other L2 solutions, while also operating on Avalanche, Gnosis Chain, BNB Chain, and other L1 blockchains. As of now, Aave’s total value locked (TVL) on various on-chain has exceeded $17 billion.