Aave, a decentralized money market, has released specifications for version two of its protocol as the project eyes $1 billion locked under contract. Aave announced plans to transition to a fully autonomous and decentralized protocol through its “genesis governance” and Aave Improvement Proposals (AIP) scheme.
According to reports, Aave will partner with real estate tokenization firm RealT to bring home mortgages to DeFi. v2 will also include transaction fee optimizations such as native support for smart contract GasToken.
Aave founder Stani Kulechov says v2 will allow users to swap debt from one currency to another and to swap collateral without returning the loan.
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