An open-source liquidity protocol, Aave, introduced that it was experiencing points with a few of its options after group builders validated them. In response, the protocol has carried out interim preventive measures.
On November 4, Aave made a publish about this situation on Twitter, the place it talked about preventative steps. The corporate paused the Aave V2 Ethereum Market and sure property on Aave V2 on Avalanche. Moreover, property on Aave V3 on Polygon, Arbitrum, and Optimism are additionally frozen.
The assertion states that there isn’t a danger to any funds on any Aave marketplaces, together with the V2 markets on Polygon and Avalanche and the V3 markets on Ethereum, Base, and Metis.
Aave mentioned, “A governance proposal to revive the conventional operation of the protocols will likely be submitted shortly. Detailed postmortem will likely be launched as soon as the problem is totally resolved.”
Customers can nonetheless withdraw and refund positions they’ve borrowed from or equipped to frozen property, however they’re unable to take action till the problem has been remedied. The corporate added, “On paused property, no motion could be completed till unpaused.”
Additionally Learn: Curve Founder Michael Egorov Closes Remaining Aave Position