Aave V3 Deployed on Monad With 12 Assets and Chainlink SVR Integration

According to BlockBeats, Aave deployed its V3 lending protocol on Monad on July 3, initially supporting 12 assets including USDT, USDC, GHO, USDe, mUSD, AUSD, WETH, cbBTC, wstETH, weETH, syrupUSDC, and sUSDe. The deployment marks Aave's first mainnet launch to enable Chainlink's Smart Value Recovery (SVR) mechanism, which redirects a portion of MEV generated during liquidations back to the protocol.

Monad Foundation committed $15 million in incentive funding over the first 12 months post-launch and agreed to acquire and hold 10 million GHO tokens for at least six months. Aave DAO also pledged 500,000 GHO tokens as additional incentives to support ecosystem development on Monad.