The decentralized finance (DeFi) protocol Aave (AAVE) is collaborating with decentralized Web3 infrastructure provider Pocket Network.
According to the announcement made on Tuesday, Aave will access on-chain data from several blockchains via Pocket's distributed network of more than 44,000 nodes in order to enable decentralized applications.
Following the new integration, developers using Aave-powered DApps may now instantly access blockchain data from Pocket Network. CEO of Pocket Network Michael O'Rourke stated:
“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.”
This deal was made possible by a grant from Aave Grants DAO used to pay for the POKT native token that Pocket Network requires for Aave's frontend traffic.
Aave presently uses a number of Remote Procedure Calls (RPC) from different infrastructure providers to satisfy its needs. Due to the varied degrees of reliability of these solutions, they can periodically act erratically and degrade the user experience.
The new partnership with Pocket Network aims to solve these issues by providing Aave with a more dependable and long-lasting infrastructure solution for its DApps.
Aave, with a current price of $95.91 and a total value locked (TVL) worth of $6.1 billion as of writing, is the third most valuable protocol in terms of total value locked (TVL) ranking, according to Defi Llama's analytical data.
Furthermore, Aave derives the most of its liquidity from Polygon (MATIC) and Ethereum (ETH) as the majority of its operations cross various blockchains,
Additionally, Pocket Network provides dedicated RPCs for these networks that reduce latency, boost uptime, and deliver enhanced multi-chain data services.