Aave V3 Launches on Monad with 12 Initial Assets

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Aave V3 is live on Monad, supporting 12 assets including USDT, USDC, and GHO. This on-chain development marks the first implementation of Chainlink’s Smart Value Recovery mechanism. The Monad Foundation will allocate $15 million in incentives and purchase 10 million GHO tokens. Aave DAO is contributing an additional 500,000 GHO for Monad applications. This move brings real-world assets (RWA) to the forefront as DeFi continues to expand.

ChainThink reports that on July 2, according to official announcements, Aave has deployed its V3 lending protocol on Monad, initially supporting 12 assets: USDT0, USDC, GHO, USDe, mUSD, AUSD, WETH, cbBTC, wstETH, weETH, syrupUSDC, and sUSDe.

In this deployment, Aave has, for the first time, enabled Chainlink's Smart Value Recovery (SVR) mechanism at launch, allowing a portion of the MEV generated during liquidations to be returned to the protocol.

According to Aave governance documents, the Monad Foundation will deploy $15 million in incentive funds over the first 12 months after the project’s launch and agrees to purchase 10 million GHO tokens, holding them for at least six months;

The Aave DAO has also committed to contributing 500,000 GHO as incentives to support applications on Monad.

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