Decentralized finance (DeFi) protocol Aave paused plenty of markets on Nov. 4 after receiving studies of a problem affecting “a sure function,” based on a publish 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 this time we obtained a report of a problem on a sure function of the Aave Protocol,” Aave introduced, including that After validation by neighborhood builders, the guardian has taken the next momentary prevention measure (no funds are in danger).”
Aave didn’t specify what drawback or function precipitated the problem, or which belongings had been affected. Aave’s publish additionally burdened that no funds had been in danger on any of its markets.
At this time we obtained a report of a problem on a sure function of the Aave Protocol. After validation by neighborhood builders, the guardian has taken the next momentary prevention measure (no funds are in danger):
— Aave (@aave) November 4, 2023
Based on the protocol, Aave V3 markets on Ethereum, Base, and Metis aren’t 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 will likely be submitted shortly. Detailed postmortem will likely 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 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.
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