Aave v3 is back up and running after being suspended due to a security vulnerability
Aave v3 has resumed normal operations after being temporarily suspended due to a security vulnerability. The project stated that the second version of the lending market is expected to restart today.
A large account bought a total of 46,729 LINK on the chain in the past 3 hours and repaid a loan of 46,650 LINK to Aave.
According to monitoring by @ai_9684xtpa, on October 31, the big short seller of LINK began to buy: within three hours, he spent 7.79 WBTC, 80,000 DAI, 130,000 USDC, and 121.53 WETH, accumulating 46,729 LINKs (worth $740,000) on the chain.
Then he repaid 46,650 LINKs of borrowing to Aave, and currently has 66,800 LINKs to be repaid, with a health factor of 1.10.
Aave Guardian has reopened the Aave V3 market, and Aave V2 on Ethereum is about to resume
According to the Aave community governance forum, Aave Guardian has lifted the suspension of Aave V3 markets on Arbitrum, Avalanche, Polygon, and Optimism. Aave V2 on Ethereum is expected to resume on November 13th, subject to operational considerations (suggested grace period to coordinate with Guardian).
Previously on November 5th, Aave reported receiving issue reports regarding certain functionalities of its protocol. Temporary preventive measures have been taken after community developer verification:
- Suspension of Aave V2 Ethereum market;
- Suspension of certain assets on Aave V2 on Avalanche;
- Freezing of certain assets on Aave V3 on Polygon, Arbitrum, and Optimism;
Aave V3 markets on Ethereum, Base, and Metis, as well as V2 markets on Polygon and Avalanche, are not affected. Funds on any Aave market are safe.
Aave community launches ARFC proposal voting for "Arbitrum USDC Migration"
On November 10th, Snapshot page shows that the Aave community has initiated a vote for the ARFC proposal "Arbitrum USDC Migration". The vote will end on November 12th, and the current support rate is 35.96%. The proposal was put forward by Gauntlet, suggesting adjustments to the parameters of Aave-related pools on Arbitrum to facilitate the community's migration from bridged USDC.e to native USDC. Gauntlet proposes the following adjustments: "freeze" the USDC.e pool, increase the USDC supply limit to 50 million coins, and increase the USDC borrowing limit to 45 million coins.
Aave’s proposal to “disable stable lending rates” has been implemented on the chain
Displayed on the governance page, the Aave community has passed and executed the on-chain vote for the "Disable Stable Borrow Rate" proposal. This proposal disables the stable borrow rate for all assets in all pools on the network. Additionally, it also unfreezes assets previously frozen by the freeze steward.
Aave has passed the proposal to "increase the GHO borrowing rate from 3% to 4.72%"
According to Snapshot page, Aave community has voted in favor of the ARFC proposal to "increase GHO borrowing rate", with a final support rate of 83.84%. The proposal suggests raising the GHO borrowing rate from 3% to 4.72%.
A giant whale has withdrawn 274,236 AAVE from Binance in the past 2 days
According to data monitored by Lookonchain, a whale has withdrawn 274,236 AAVE tokens (worth $26.5 million) from Binance over the past two days. This makes them the 10th largest holder of AAVE and the largest individual holder of AAVE.
Aave founder sold 25,000 AAVE in the past 7 hours
Spot On Chain monitoring shows that Aave founder Stani Kulechov reportedly sold 25,000 AAVE (worth $2.38 million at an average price of $95.3) in the past 7 hours for 941,000 USDC and 668 wstETH. AAVE prices have risen 26% in the past 7 days.
Aave community proposal proposes extending Aave DAO using EIP-4824
A new proposal from the Aave community suggests using EIP-4824 to expand Aave DAO. EIP-4824 defines a standard JSON schema for publishing basic DAO metadata on-chain. It achieves this by deploying a new smart contract to store the daoURI, and does not involve any fund transfers or changes to the Aave smart contract.
The Aave community proposes to add sfrxETH as a reserve to the Aave V3 Ethereum market
The Aave community has proposed adding sfrxETH as a reserve to the Aave V3 Ethereum market, which will bring additional diversity and liquidity to the ecosystem. In addition, introducing frxETH will become an additional source of income for Aave, which is beneficial to the entire ecosystem and will have a positive impact on asset liquidity and pegged elasticity.
Aave V3 has been launched on Gnosis Chain
On November 7th, according to an official announcement, Aave V3 has been launched on Gnosis Chain.
A whale withdrew 70,000 AAVE from Binance 20 minutes ago, and has withdrawn a total of 210,000 AAVE in the past two days.
On November 7th, monitored by 0xScopescan, 20 minutes ago, a whale with an address starting with "0x8e74" withdrew 70,000 AAVE (6.83 million US dollars) from Binance. In the past two days, the address has withdrawn a total of 210,000 AAVE (20.53 million US dollars).
Aave has voted on a proposal to lower the CRV liquidation threshold for Aave V3 on Polygon
On November 7th, the Aave community voted in favor of a proposal to lower the CRV liquidation threshold for Aave V3 on Polygon, with a support rate of 99.99%. The proposal aims to reduce the CRV liquidation threshold for Aave V3 on Polygon by 15%, from 65% to 50%.
A certain whale transferred 70,000 AAVE from Binance again 5 minutes ago, equivalent to approximately US$6.93 million
On November 7th, as monitored by Lookonchain, a whale has once again transferred 70,000 AAVE ($6.93 million) from Binance just 5 minutes ago. It is reported that this whale has withdrawn a total of 140,100 AAVE ($13.88 million) from Binance in the past 24 hours.
The interest rate for borrowing USD stablecoins on the Aave platform has surged to over 10%
The market for altcoins has rebounded significantly since last weekend. The interest rate for borrowing stablecoins denominated in US dollars (such as USDC and Tether) on the Aave platform has skyrocketed to over 10%. Aave is the largest lender in the DeFi project, allowing peer-to-peer encrypted cryptocurrency transactions without intermediaries. The higher interest rate means that more traders are willing to pay to borrow stablecoins, indicating that they are increasing their cryptocurrency bets. The lending rates for DeFi and the financing rates for perpetual contract markets continue to rise, creating arbitrage opportunities for traders between the two. Spencer Hallarn, a derivatives trader at cryptocurrency investment company GSR, said: "Aave and perpetual contract rates should typically have some correlation, as you can arbitrage between the two. Overall, this indicates demand for holding cryptocurrency in the derivatives market."
A whale withdrew $6.9 million worth of AAVE from Binance
On November 6th, Lookonchain monitoring reported that a whale withdrew 70,100 AAVE (approximately $6.9 million) from Binance within the past 2 hours. According to market data, AAVE has risen over 8% in the past 24 hours and is currently trading at $98.38.
A certain whale deposited 33,100 AAVE into Coinbase 12 hours ago
According to The Data Nerd monitoring, 12 hours ago, a whale address starting with 0x5e0 deposited 33,100 AAVE (approximately $2.97 million) into Coinbase at an average price of $89.7. This whale had accumulated these AAVE at an average price of $74.5 three months ago and has now realized a profit of $503,000 (20%).
Issuance of Aave’s native stablecoin GHO exceeds 30 million
According to Etherscan data, the native stablecoin GHO of Aave has exceeded 30 million in circulation since its launch on the Ethereum mainnet on July 15th, reaching 30,076,716 coins.
Earlier, the Aave community initiated a "temperature check" vote to increase the borrowing rate of GHO. The proposal suggests raising the GHO borrowing rate from 3% to 4.72%.
The Aave community's proposal to "Activate Aave V3 on Gnosis" has been voted on and will be implemented within 7 hours
According to the governance page, the Aave community's proposal to "activate Aave V3 on Gnosis" has been passed through on-chain voting and will be executed within 7 hours.
Aave community initiates on-chain voting for proposal to disable stable lending rate to deal with potential risks
On November 6th, according to governance page information, the Aave community is voting on a proposal to disable stable borrowing rates for all assets in all pools on the network. The vote will end on November 8th. Additionally, the proposal unfreezes assets previously frozen by the administrator.
Yesterday, Jinse Finance reported that Aave has received reports of issues with a certain feature of the Aave protocol and has taken temporary precautions to ensure all funds are safe. A governance proposal to restore normal protocol operation will be submitted soon and a detailed post-analysis will be released after the issue is fully resolved.
