In Brief:
- Aave protocol passed the first cross-chain governance proposal
- The proposal executed on Aave and built on Ethereum was sent to Polygon Network
- The Aave cross-chain governance bridge will operate with any chain that supports the EVM and cross-chain messaging.
Leading decentralized lending protocol, Aave passed the first successful cross-chain governance proposal between Ethereum and Polygon blockchain.
As per the Twitter thread, Aave has executed a proposal built on the Ethereum network and transferred it to the Polygon FxPortal. The portal validated the authenticity of data that came from the Ethereum blockchain and passed it to the Polygon network through the ‘StateSynced’ event.
In the next steps, Aave cross-chain governance bridge contract decoded this data and sent them into queue to finalize this proposal.
Aave Team wrote in the thread, “The Aave cross-chain governance bridge is built in a generic way to be easily adapted to operate with any chain that supports the EVM [Ethereum Virtual Machine] and cross-chain messaging.”
At present, the repository supports contracts for bridging to Polygon and Arbitrum. On Aave, users can send their opinions and request about various features on the DeFi platform through Aave Improvement Protocols or AIPs.
“It’s a significant advancement in multi-chain governance systems,” the Aave team stated. The team also stated that this is a significant step forward in terms of multi-chain governance. GHST, BAL, CRV, DPI, LINK, and SUSHI are among the additional assets added thus far.
Last year, Gauntlet Network raised security concerns over xSUSHI and DeFi Pulse Index tokens and requested to remove the borrowing functions. The proposal passed with majority votes after four days of submission.
To satisfy the demands of crypto transactions on different Ethereum-based blockchain, Aave protocol indulges its team into new future-oriented projects. Last week, Aave protocol announced the test roll-out of its new version, v3.
