2 years ago
"It's a large measurement guardant successful multi-chain governance systems," said the squad astatine Aave.
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On Monday, the archetypal cross-chain governance connection passed connected decentralized finance, oregon DeFi, borrowing and lending level Aave. According to DeFi Llama, the magnitude of full worth locked connected Aave is astir $12 billion. As told by its developers, an executed connection connected Aave, which is built connected the Ethereum (ETH) network, was sent to the Polygon (MATIC) FxPortal. The mechanics past reads the Ethereum information and passes it for validation connected the Polygon network.
Afterward, the Aave cross-chain governance span declaration receives this data, decodes it, and queues the enactment pending a timelock for finalization. The improvement squad wrote:
The Aave cross-chain governance span is built successful a generic mode to beryllium easy adapted to run with immoderate concatenation that supports the EVM [Ethereum Virtual Machine] and cross-chain messaging.1/ The archetypal cross-chain governance connection has successfully updated the Aave Polygon Market! This connection from @aavegotchi is simply a large measurement guardant successful multi-chain governance systems✨
New assets listed see GHST, BAL, CRV, DPI, LINK, & SUSHI
A thread connected this proposal:
Currently, the repository supports contracts bridging to Polygon and Arbitrum. On Aave, users tin taxable Aave Improvement Protocols, oregon AIPs, to people assorted features connected the DeFi platform. In 1 lawsuit past October, Gauntlet Network submitted an AIP to disable the borrowing functions for xSUSHI and DeFi Pulse Index tokens and an automated marketplace shaper liquidity supplier token pair, citing alleged information vulnerabilities. The connection passed with 710,327 votes successful favour 4 days aft submission.
While immoderate blockchain enthusiasts took to societal media to observe the technological milestone, not each stakeholders are fans of cross-chain developments. Last month, Vitalik Buterin famously gave the thumbs down to cross-chain applications, citing irreversible breaches should a 51% onslaught hap connected 1 web amidst cross-chain transactions. In addition, the Ethereum co-founder warned that the scaling of cross-chain applications could besides standard vulnerabilities, arsenic hackers tin origin system-wide contagions by launching 51% attacks connected conscionable 1 network, particularly against small-cap ones.
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