„It’s a major step forward in multi-chain governance systems,” said the team at Aave.
On Monday, the first cross-chain governance proposal passed on decentralized finance, or DeFi, borrowing and lending platform Aave (AAVE). According to DeFi Llama, the amount of total value locked on Aave is approximately $12 billion. As told by its developers, a proposal executed on Aave, which is built on the Ethereum (ETH) network, was sent to the Polygon (MATIC) FxPortal. The mechanism then read the Ethereum data and passed it for validation on the Polygon network. Afterward, the Aave cross-chain governance bridge contract received this data, decoded it and queued the action, pending a timelock for finalization. The development team wrote:The Aave cross-chain governance bridge is built in a generic way to be easily adapted to operate with any chain that supports the EVM [Ethereum Virtual Machine] and cross-chain messaging.1/ The fi
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