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Bgdlabs conducted a technical analysis of the Base network, a Layer 2 optimistic rollup with EVM compatibility, and found it to be a suitable host for the Aave v3 liquidity protocol. However, the expansion of Aave on Base will require development resources for setup, maintenance, and monitoring, and the community should focus on liquidity and risk aspects due to the network's early stage.
The discussion primarily revolves around the potential of the Base network as a host for the Aave liquidity protocol. Bgdlabs conducted a technical analysis of the Base network, which is a Layer 2 optimistic rollup with EVM base compatibility and settles to the Ethereum mainnet. The analysis evaluated the compatibility of Base with the Aave v3 liquidity protocol, focusing on aspects such as oracles, Ethereum RPC standard compatibility, Ethereum account format compatibility, RPC endpoints, execution layer implementation, wallet support, on-chain multi-signature infrastructure, transaction simulation infrastructure, and chain data/indexing solutions.
Base's bridging infrastructure for Aave was also discussed, with two types of bridging mentioned: assets and generic messaging. The security of the ERC20 smart contracts for bridged assets will need to be assessed if the community decides to deploy on Base. The Base network's security procedures and technical model were also discussed, with Base being an optimist rollup, similar to Optimism mainnet, and having a centralization roadmap. The Base team has procedures to keep Base in sync with the OP-Stack infrastructure, and all layers were audited by multiple parties, with ongoing bug bounty programs.
In conclusion, Bgdlabs found Base to be a suitable network candidate for the Aave v3 protocol, based on the inherited infrastructure from the OP-Stack and the presence of Aave on both Optimism mainnet and Metis Andromeda. However, the expansion of Aave will require allocating development resources for setup, maintenance, and monitoring. The community should focus on liquidity and risk aspects due to the early stage of the network. The next steps include risk reporting from ChaosLabs and Gauntlet, followed by a final Snapshot vote for the community to approve a deployment and activation of Aave v3 on Base mainnet.
Posted 4 months ago
Last reply 4 months ago
Summary updated 2 months ago
Last updated 03/12 08:00