PANews reported on March 3 that, according to The Block, Aave has deployed its lending market on the Sonic blockchain, which is Aave's first Layer 1 expansion this year. This deployment was approved through Aave's governance vote and was proposed and driven by the Aave Chan Initiative. Sonic, formerly known as Fantom, launched its mainnet in December 2024 and currently has a total value locked (TVL) of over $700 million, with a transaction fee sharing mechanism.
This expansion is supported by a $15 million fund from the Sonic Foundation, as well as 50 million Sonic native tokens ($S) and $800,000 in stablecoin liquidity incentives.
