Aave Delays A Number Of DeFi Markets After Technical Problem Reports, Safe Assets

Illustration of AAVE Tokens. (photo: twitter @AAVE)

JAKARTA - Aave's decentralized financial protocol delayed a number of markets on November 4 after receiving reports of "certain issues" affecting the feature. This was revealed, according to a post on X (formerly Twitter).

This delay affects a number of networks, including Ethereum Aave v2 Market and a number of assets in Aave v2 in Avalanche. In addition, a number of assets in Polygon, Arbitrum, and Optimism have been frozen.

"Today we received a report on the issue on certain features of the Aave Protocol," said Aave. They added that after validation by community developers, the guards had taken temporary precautions and no funds were at risk.

Aave did not explain what problems or features caused the problem or which assets were affected. Pos Aave also emphasized that no funds were at risk in their market.

According to the protocol, the Aave v3 markets in Ethereum, Base, and Metis are not affected by this problem. In addition, the Aave v2 markets in Polygon and Avalanche are also unaffected.

Users who provide or borrow from frozen assets can still withdraw and pay off positions but cannot provide or borrow further until the problem is resolved, Aave noted. No action can be taken on the charged assets.

There is no indication that this issue has affected the price of Aave's original token, AAVE. At the time of writing, the token is trading for 89.10 US dollars, down 1.54%, according to CoinMarketCap.