Aave

Summary Proposal for the deployment of Aave V3 on Neon EVM Devnet.

Proposal To support Aave’s multichain expansion, we propose the deployment of Aave V3 to Neon EVM on behalf of the community.

Neon EVM is a first-of-kind EVM-compatibility solution for the Solana blockchain. The tool allows Ethereum-like transactions to be processed on Solana, allowing Ethereum dApp developers to leverage their knowledge of Solidity, developer tooling, and existing codebases to scale with Solana, which lets dApps take advantage of the best features from both blockchains. Neon EVM offers Ethereum ecosystem dApp developers increased throughput and swift block time on Solana, with low gas prices and no need for changing code – anyone can run Ethereum contracts on Solana with Neon EVM. It also introduces incentivised transactions-facilitating Neon EVM operators to the Solana blockchain. Neon Operator runs Neon Proxy servers, which helps facilitate seamless execution of Ethereum-like transactions on Solana. This allows Ethereum dApps to be ported to Neon with no code change. Neon is here to foster friendship between both communities and chains by adopting the developer tools and compute layer present on Ethereum and reducing friction for Ethereum developers looking to expand to Solana.

Neon EVM ecosystem has numerous projects in its pipeline committed to launching during mainnet and shortly after the launch of mainnet, including blue-chip DeFi protocols, wallets, fiat on/off ramps, infrastructure, DAO tooling, etc.

Committed to support our ecosystem builders and see them succeed, Neon Foundation will provide following support levels that include but are not limited to: Ecosystem Grants (Application/Approval based) Ambassador Program (Application/Approval based) Bounty Program (Application/Approval based) Ecosystem Funds (Application/Approval based)

Neon EVM is a trustless and open-source project, which will be governed by DAO and Neon Foundation is committed to ethos of decentralisation and community ownership. As we are paving the path towards the open economy, it is highly imperative to have trusted and established lending & borrowing protocols such as Aave within our ecosystem. We believe that Neon-Aave integration will provide users with more choices, enable users to tap into distinct ecosystems from both sides and contribute to the expansion of Web3 economy.

Deploying on Neon EVM will onboard new users & increase user activity on Aave by decreasing costs compared to Ethereum, taking advantage of Solana’s throughput, and enabling users to tap into Solana’s liquidity and the overall ecosystem. Neon EVM has a robust and surging DeFi ecosystem with distinct players such as AMMs, lending & borrowing protocols, derivatives etc. Having a flagship protocol like Aave would be highly valuable to our ecosystem; since we both share similar values when it comes to decentralisation and community ownership.

Neon EVM is highly open to work together with the Aave community to determine optimal strategies for liquidity incentivisation, marketing, awareness campaigns, technical support and additional benefits that are tremendously important for both communities.

The Neon Foundation team would like to take this opportunity and thank the Aave community for granting us the opportunity to make this proposal and we look forward to onboarding Aave to the Neon EVM ecosystem and building a long-lasting and mutually beneficial relationship.