Aave deployed V4 on Ethereum mainnet on March 30, adding a hub-and-spoke architecture that centralizes liquidity while allowing separate spoke markets to operate with independent risk parameters. According to the update, the design is intended to support markets such as structured loans, fixed-rate lending, and tokenized asset-backed credit. The launch is starting in a controlled phase under DAO governance, adding a concrete deployment date and rollout approach to Aave’s broader V4 expansion plans after roughly two years of development.