Decentralized money market Aave has released specifications for version two of its protocol as the project eyes $1 billion locked under contract, according to DeFi Pulse.
- Aave will partner with real estate tokenization firm RealT to bring home mortgages to DeFi. RealT did not return questions for comment by press time.
- v2 will also include transaction fee optimizations such as native support for smart contract GasToken.
- As reported by CoinDesk, Aave announced plans to transition to a fully autonomous and decentralized protocol through its “genesis governance” and Aave Improvement Proposals (AIP) scheme.
- “V2 takes DeFi composability beyond what we have seen,” Aave founder Stani Kulechov told CoinDesk in an email. For example, v2 will “introduce the ability to swap debt from one currency to another and the ability to swap collateral without returning the loan," he said.
This article was updated to include a comment from Stani Kulechov.