On November 4, 2023, Aave, a decentralised finance (DeFi) protocol, discontinued a number of markets. The step has been taken on account of the protocol receiving updates regarding “a certain feature” concern, as stated by Cointelegraph.
According to Cointelegraph, the hiatus has impacted different networks such as Aave v2 Ethereum Market and particular assets on Aave v2 on Avalanche. From what it’s understood, specific assets on Optimism, Polygon and Arbitrum have also faced the implications of the stoppage. “Today we received a report of an issue on a certain feature of the Aave Protocol,” Aave stated on the matter.
Based on Cointelegraph’s data, Aave didn’t provide additional information around the concern. It’s believed that Aave’s post also emphasised on funds not being in danger belonging to any of its markets. Reportedly, Aave v3 markets on Metis, Base and Ethereum haven’t been affected by this development, along with Aave v2 markets on Avalanche and Polygon. “A governance proposal to restore the normal operation of the protocols will be submitted shortly. Detailed postmortem will be released once the issue is fully resolved,” the protocol stated.
Moreover, Cointelegraph noted that users using frozen assets can continue to withdraw and repay positions but can’t further do it before reaching a conclusion on the matter. Sources suggest that the frozen assets can’t be subjected to implications. However, there are no signs over the matter influencing AAVE, Aave’s native token.
(With insights from Cointelegraph)
