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Decentralized finance (DeFi) protocol Aave paused a lot of markets on Nov. 4 after receiving experiences of a problem affecting “a sure characteristic,” in response to a publish on X (previously Twitter).
The pause impacts a number of networks, together with Aave V2 Ethereum Market and sure property on Aave V2 on Avalanche. As well as, sure property on Polygon, Arbitrum, and Optimism have been frozen.
“In the present day we acquired a report of a problem on a sure characteristic of the Aave Protocol,” Aave introduced, including that After validation by neighborhood builders, the guardian has taken the next non permanent prevention measure (no funds are in danger).”
Aave didn’t specify what drawback or characteristic induced the problem, or which property had been affected. Aave’s publish additionally burdened that no funds had been in danger on any of its markets.
In the present day we acquired a report of a problem on a sure characteristic of the Aave Protocol. After validation by neighborhood builders, the guardian has taken the next non permanent prevention measure (no funds are in danger):
— Aave (@aave) November 4, 2023
In keeping with 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 conventional 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 property can nonetheless withdraw and repay positions, however cannot provide or borrow additional property till the problem is resolved, Aave famous. No motion will be taken on paused property.
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 response to CoinMarketCap.
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