Decentralized finance (DeFi) protocol Aave paused quite a few markets on Nov. 4 after receiving experiences of a difficulty affecting “a sure characteristic,” based on a put up 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.
“Right this moment we obtained a report of a difficulty on a sure characteristic of the Aave Protocol,” Aave introduced, including that After validation by group builders, the guardian has taken the next momentary prevention measure (no funds are in danger).”
Aave didn’t specify what downside or characteristic brought about the problem, or which belongings have been affected. Aave’s put up additionally harassed that no funds have been in danger on any of its markets.
Right this moment we obtained a report of a difficulty on a sure characteristic of the Aave Protocol. After validation by group builders, the guardian has taken the next momentary prevention measure (no funds are in danger):
— Aave (@aave) November 4, 2023
In response to the protocol, Aave V3 markets on Ethereum, Base, and Metis should not impacted by the problem. Moreover, Aave V2 markets on Polygon and Avalanche haven’t been affected.
“A governance proposal to revive the conventional operation of the protocols might be submitted shortly. Detailed postmortem might be launched as soon as the problem is absolutely 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 might be taken on paused belongings.
There isn’t any 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%, based on CoinMarketCap.