Aave proposes to support Coinbase's cbBTC proposal and will launch Base and mainnet

Aave is a decentralized financial protocol that allows people to borrow cryptocurrency. Lenders earn interest by depositing digital assets into a specially created liquidity pool. Borrowers can then use their cryptocurrency as collateral to make quick loans using this liquidity.

 

On September 11th, Aave DAO proposed to add Coinbase's cbBTC to Aave V3, supporting its launch on the Ethereum and Base networks. Aave has become the preferred protocol for supporting Tier 1 asset launch, and this move also marks Aave's further support for innovation in encrypted assets. Once the proposal is passed, users will use cbBTC for lending and liquidity operations on Aave V3, introducing more opportunities to the ecosystem.