Decentralized finance (DeFi) protocol Aave paused quite a few markets on Nov. 4 after receiving reviews of a difficulty affecting “a sure function,” in keeping with a submit on X (previously Twitter).
The pause impacts a number of networks, together with Aave V2 Ethereum Market and sure belongings on Aave V2 on Avalanche. As well as, sure belongings on Polygon, Arbitrum, and Optimism have been frozen.
“At present we acquired a report of a difficulty on a sure function of the Aave Protocol,” Aave introduced, including that After validation by group builders, the guardian has taken the next short-term prevention measure (no funds are in danger).”
Aave didn’t specify what downside or function triggered the problem, or which belongings had been affected. Aave’s submit additionally harassed that no funds had been in danger on any of its markets.
At present we acquired a report of a difficulty on a sure function of the Aave Protocol. After validation by group builders, the guardian has taken the next short-term prevention measure (no funds are in danger):
— Aave (@aave) November 4, 2023
Based on the protocol, Aave V3 markets on Ethereum, Base, and Metis are usually not impacted by the problem. Moreover, Aave V2 markets on Polygon and Avalanche haven’t been affected.
“A governance proposal to revive the traditional operation of the protocols shall be submitted shortly. Detailed postmortem shall be launched as soon as the problem is totally resolved,” the protocol famous within the thread.
Customers supplying or borrowing from frozen belongings can nonetheless withdraw and repay positions, however cannot provide or borrow additional belongings till the problem is resolved, Aave famous. No motion could be taken on paused belongings.
There is no such thing as a indication that the problem has affected the worth of Aave’s native token, AAVE. On the time of writing, the token is buying and selling at $89.10, down 1.54%, in keeping with CoinMarketCap.
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