Aave V2 is available on the Kovan Testnet. The genesis team have provided some of the details, which can be expected with Aave V2. These features are meant to make finance to be a comparatively seamless experience.
The Aave community are interested in making improvements to the protocol and they have been forever involved in providing the required feedback. They have a governance forum. In the governance forum, the genesis team are gathering proposals from the community. The proposals are upvoted accordingly and the team enacts on the governance.
Aave V2 was possible because it is the result of the feedback from the community which brings in architectural redesign to provide for upgrading the protocol and also some exciting new features to improve on the limits of the DeFi user experience by facilitating new tools and UI/UX improvements.
It is possible to test Aave V2 without having to spend real assets for the purpose on the testnet client. To use the testnet free of cost, users are to switch their wallet provider to the Kovan network. Also users need to have ETH before they can get the tokens to use the faucet. There are guidelines to help with due instructions on testing the Aave Protocol on the testnet and also about how to get the ETH for testing.
The contract addresses for Aave V2 on Kovan is also made available.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Aave V2 have due audits and formal verification happening and a bug bounty is also happening now.”
For those who do not know, Kovan Testnet is the fast and reliable Ethereum Test Chain. It is POA (Proof of Authority) blockchain that is a publicly accessible blockchain for Ethereum. The Kovan Network is maintained by a group of Ethereum developers to help the Ethereum community.
The “Faucets” allow you to acquire Kovan Ether without the need for mining. This is made possible using the Kovan Faucet Services.
Aave V2 the Liquidity Protocol and Kovan
To connect to Kovan users should install Parity. Parity is a very well-known Ethereum client that can be very easily configured and connected to Kovan. It is also possible to connect to Kovan making use of Infura to connect to Kovan by specifying the RPC URL.
ParityTech has made it possible to get automated SMS-verification Faucet service which permits users to get a daily allowance of KETH. Also, it is expected that more of alternative faucets will be available with time.
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