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Editorial policyAave V4 launched on Ethereum mainnet on 30 March 2026. The Hub holds liquidity and issues credit and debit lines; you transact on a Spoke with its own risk parameters and oracles. Liquidations target a Spoke-level health factor instead of V3’s close factor, and borrow cost can include a user risk premium. Skip migrating a V3 eMode loop you already understand. Official docs: https://aave.com/docs/aave-v4. Educational research, not financial advice.
Aave V4 went live on Ethereum on 30 March 2026 with Hub & Spoke accounting, a new liquidation engine, and a user risk premium on borrows. V3 did not disappear. This is the launch recap and who should not migrate yet — not a click-path.
Skip this recap if you wanted a first supply tutorial — use the Aave how-to. Skip it if you needed a token buy call. Skip a V4 migration if you cannot name the Spoke, the oracle, and how to unwind. V3 markets remaining live is not a bug.
Aave V4 went live on Ethereum on 30 March 2026. That date is the protocol’s, not a traffic headline. The architecture change is Hub & Spoke: the Liquidity Hub consolidates accounting and liquidity; Spokes are the modules users actually call, each with local risk settings and oracles. Official description: aave.com/docs/aave-v4.
Do not treat Hub & Spoke as ‘Base borrows Ethereum’s cash automatically’. The docs describe per-Spoke credit and debit lines against a Hub so governance can add markets without migrating the whole pool. If a front end claims unified cross-chain liquidity, verify it on that Spoke — this page will not.
Health factor is still collateral versus debt; below 1.0, liquidation can start. V4’s engine aims at a target health factor set on the Spoke, rather than V3’s close-factor chunk. The liquidation bonus can rise as health factor falls. Dust under $1,000 of leftover debt or collateral can force a full clear. User risk premium can sit on top of the shared asset borrow rate, weighted by collateral quality.
That is more to watch, not less. Skip borrowing on V4 until you can point to those three numbers on the position screen.
V3 markets remained open after launch. Aave Pro at pro.aave.com is the V4-facing UI we name; app.aave.com remains the V3 UI we name. Bookmark them. Google Ads and Discord links are how people lose the wallet before they ever pick a Spoke.
By August 2026, protocol-side commentary put V4 deposits in the hundreds of millions while V3 still carried the bulk of Aave’s book — see our 22 August deposits briefing. TVL on DeFiLlama is a different methodology; do not mash the numbers.
Skip it if you needed click-steps — /learn/how-to-supply-aave/. Skip it if you wanted a ‘buy AAVE because buybacks’ story. Governance value-accrual packages move; re-read the forum, do not freeze a March slogan.
The evergreen mechanism page is /article/aave/. This URL exists so the March launch query has a dated answer instead of competing with that guide.
FAQ
Ethereum mainnet, 30 March 2026.
No. V3 markets continued. Pick the version on purpose.
app.aave.com (V3) and pro.aave.com (Aave Pro / V4). Type them.
This page does not recommend a migration. Educational research only.
Aave is the default multi-chain DeFi lending market. V4 (Ethereum, 30 March 2026) uses a Hub for liquidity and Spokes for the market you actually click. Supply for a variable rate, or borrow and watch health factor — including V4’s target-health-factor liquidations.
On 22 August 2026 Stani Kulechov said Aave deposits crossed $30 billion. That is a protocol deposit print, not DeFiLlama TVL, and it sits below 2025 peaks. Treat it as a recovery datapoint, not a buy call.
Compound V3 (Comet) is single-base lending markets — simpler than Aave’s multi-asset pool. Verdict-first guide on when that simplicity helps and when Aave or Morpho is the better tool.