Aave (AAVE), an open source decentralized finance (DeFi) protocol, is teaming up with decentralized Web3 infrastructure provider Pocket Network to offer developers increased scalability and ease of use when building decentralized applications (DApps) on the Aave Protocol.
According to a Tuesday statement, Aave plans to use Pocket’s distributed network consisting of over 44,000 nodes to gain access to on-chain data from multiple blockchains in order to power decentralized apps. Aave-powered developers can now access Blockchain data from Pocket Network upon request. Michael O’Rourke, CEO of Pocket Network, remarked that:
“The goal is to power the next wave of decentralized applications that combine Aave’s best-in-class liquidity market with Pocket’s unrivaled RPC coverage, which now supports 50 blockchains and is well on its way to achieving its goal of 100 blockchains in 2022.”
Aave Grants DAO made the agreement possible by providing a Grant to purchase the Pocket Network native token POKT required for Aave’s frontend traffic. Aave currently uses several Remote Procedure calls (RPCs) from various infrastructure providers in order to meet its requirements. These solutions can sometimes become unpredictable and cause users to experience a worsening user experience, due to their varying reliability.
These problems will be alleviated by the new connection to Pocket Network, which offers Aave a more reliable and durable infrastructure solution that allows it to run its decentralized apps.
Related: NEAR developers will be able to deploy seamless Web3 apps with Pocket Network
According According to Defi Llama’s analysis data, Aave is third most valuable protocol (TVL) in terms price and total value. It currently has a price of $95.91, with a total value (TVL), worth $6.1 billion at the time of writing. Aave’s liquidity comes primarily from Ethereum and Polygon (MATIC) as most of its operations span multiple Blockchains. Pocket Network provides dedicated RPCs that are tailored to these networks. They lower latency, improve uptime, provide optimized multi-chain data services, and increase uptime.