Avalanche’s Aave v2 Ethereum Market and specific assets on Aave v2 are among the markets impacted by the pause. Also frozen are some assets on Optimism, Arbitrum, and Polygon.
A post on X (previously Twitter) states that on November 4, the decentralised finance (DeFi) protocol Aave paused several markets in response to reports of a problem affecting “a certain feature.”
“The Aave Protocol has received a report of a problem today,” Aave stated. “The guardian has taken the following temporary preventive measure (no funds are at risk) after community developers validated it.” Aave did not identify the assets that were impacted by the issue or what issue or feature caused it. The fact that no money was at risk on any of its markets was also emphasised in Aave’s post.
The protocol states that the problem does not affect the Aave v3 markets on Ethereum, Base, or Metis. Furthermore, Aave v2 marketplaces on Polygon and Avalanche remain unaffected.
“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.
According to Aave, users who supply or borrow from frozen assets can still withdraw and repay positions, but they are unable to supply or borrow from further assets until the problem is fixed. Paused assets are not subject to any action.
The native token of Aave, AAVE, is not showing any signs of being impacted by the problem. As of this writing, CoinMarketCap shows that the token is trading at $89.10, down 1.54%.