In an overwhelming community vote, no community members were against the proposal.
Lending protocol Aave's version 3 (V3) protocol is set to launch on Ethereum's Layer-2 Metis Network after a unanimous community vote.
According to the community vote that closed on May 6th, over 650,000 AAVE tokens were submitted for the initiative. It is worth noting that no community members were against the proposal.
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The integration will boost liquidity for both platforms while extending Aave's lending and borrowing services to Metis users. This collaboration also lets users earn rewards for supplying token liquidity to Aave.
Though Metis gained popularity for its cost-effective and speedy transactions during the last bull run, it now lags behind rivals like Optimism and Arbitrum. These networks manage billions in tokens, while Metis oversees just $40 million. To regain momentum following Aave V3's deployment, Metis is offering liquidity incentives.
Over six months, 100,000 native Metis (METIS) tokens will be awarded to Aave users as a liquidity mining incentive. Additionally, a token mining reward program will allocate 4,000 METIS to participating protocols based on the proportion of monthly transactions generated.
At the time of writing, MetisDAO (METIS) retails for $26.70, recording almost a 4% decrease in the last 24 hours.
It is worth noting that in April, during a "temperature check" vote Aave community approved another proposal, offering to introduce the third version of the lending protocol on the zero-knowledge Ethereum Virtual Machine (zkEVM).
