Aave v3 Launches on Celo

Aave v3 has launched on Celo, expanding DeFi access to Celo’s mobile-first users and opening the platform to broader user growth.

The latest version of the lending and borrowing protocol, Aave (AAVE) v3, has just launched on Celo, following the overwhelming approval by Aave’s community.

Integration Details

With this integration, Celo (CELO) users can now lend, borrow, and earn yield on their staked assets. The deployment supports CELO, Tether (USDT), and USD Coin (USDC) as collateral, while cUSD and cEUR are available for borrowing.

> “Celo was built to provide individuals and communities worldwide with accessible, efficient financial tools, and Aave’s launch is a major step forward in delivering on this mission,” said Isha Varshney, Celo Foundation’s Head of Ecosystem.

Potential User Growth

For Aave, the integration with Celo has the potential to bring in new users, especially mobile-first retail users — as Celo primarily caters to mobile audiences.

> “This deployment of Aave on Celo will potentially bring a large community of new people into the Aave ecosystem, reaching mobile-first users in emerging markets, connecting real-world assets to DeFi, and accelerating the use of stablecoins for simple transactions,” said Aave Labs Founder Stani Kulechov.

Historical Context

Aave v3 was launched in March 2022 and went live on the Ethereum (ETH) mainnet in January 2023. It has since been integrated into Aptos, Avalanche, Polygon, Arbitrum, ZKSync Era mainnet, and Sonic (previously known as Fantom).

Market Response

Despite the announcement, both CELO and AAVE are down by 0.25% and 1% respectively, reflecting a broader market downturn as tariffs still weigh on the industry.