Aave V3 has been deployed on Monad

Aave has deployed the V3 lending protocol on Monad, with the initial market supporting a total of 12 assets: USDT 0, USDC, Aave stablecoin GHO, USDe, mUSD, AUSD, WETH, cbBTC, wstETH, weETH, syrupUSDC, and sUSDe. In this deployment, Aave has enabled the Chainlink Smart Value Recovery mechanism (SVR) at launch for the first time, which can return part of the MEV value generated during the liquidation process back to the protocol.

The Monad Foundation will invest $15 million as incentive funds within the first 12 months after the project launch and has agreed to purchase 10 million GHO and hold it for at least six months; Aave DAO has also committed to invest 500,000 GHO as incentives to support applications on Monad.