A while ago, the Genesis Team released this plan outlining some features to expect with Aave V2, making finance a more seamless experience. Today, Aave V2 is live on the Kovan testnet, and you can check it out here.
Since the beginning of 2020 when the Aave Protocol first launched, the Genesis Team has collected feedback from the community which has been invaluable in making improvements to the protocol. Now the governance power is in your hands, and the Genesis Team will take on the role of builders who gather popular proposals on the governance forum, and enact the updates voted on by the governance.
Aave V2 is a culmination of community feedback that brings some architecture redesign to upgrade the protocol, along with some exciting new features to push the limits of the DeFi user experience with new tools and UI/UX improvements.
You can find the whole documentation here.
You can test Aave V2 without spending real assets on the testnet client here! Be sure to switch your wallet provider to the Kovan network in order to use the testnet free of cost. You can get tokens to test from the faucet here — simply select the token of your choice and submit the transaction. Make sure to have ETH before using the faucet. You can find the Kovan ETH faucet here. For further instructions on how to test the Aave Protocol on testnet, including how to get ETH for testing, feel free to refer to the testing FAQ.
You can find the contract addresses for Aave V2 on Kovan in the documentation here.
The code is currently under 4 audits and formal verification, results will all be published before mainnet launch. Additionally, there is an ongoing Bug Bounty up to $250 K to compensate those that discover new bugs or vulnerabilities and disclose them safely. You can find the criteria and details of the Bug Bounty process here.
Feel free to try out V2 on testnet! Your feedback is always appreciated. Feel free to follow Aave on Twitter for frequent updates, join the discussion on Discord, and voice your opinion on the Governance Forum!