Decentralized finance (DeFi) protocol Aave paused a number of markets on Nov. 4 after receiving reports of an issue affecting “a certain feature,” according to a post on X (formerly Twitter).
The pause affects multiple networks, including Aave V2 Ethereum Market and certain assets on Aave V2 on Avalanche. In addition, certain assets on Polygon, Arbitrum, and Optimism have been frozen.
“Today we received a report of an issue on a certain feature of the Aave Protocol,” Aave announced, adding that After validation by community developers, the guardian has taken the following temporary prevention measure (no funds are at risk).”
Aave did not specify what problem or feature caused the issue, or which assets were affected. Aave’s post also stressed that no funds were at risk on any of its markets.
Today we received a report of an issue on a certain feature of the Aave Protocol. After validation by community developers, the guardian has taken the following temporary prevention measure (no funds are at risk):
— Aave (@aave) November 4, 2023
According to the protocol, Aave V3 markets on Ethereum, Base, and Metis are not impacted by the issue. Additionally, Aave V2 markets on Polygon and Avalanche have not been affected.
“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 noted in the thread.
Users supplying or borrowing from frozen assets can still withdraw and repay positions, but can’t supply or borrow further assets until the issue is resolved, Aave noted. No action can be taken on paused assets.
There is no indication that the issue has affected the price of Aave’s native token, AAVE. At the time of writing, the token is trading at $89.10, down 1.54%, according to CoinMarketCap.
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