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DeFi Giants Aave Freezes Markets and Cap Loans to Mitigate Risks

Aave executed a proposal to freeze the markets for 17 different assets in the Aave V2 lending pool on the Ethereum network, including the Yearn. Finance (YFI), Curve DAO (CRV), Gemini Dollar (GUSD), Maker (MKR), and 1inch (1INCH) tokens.

“DeFi protocols are being battle tested and it highlights how communities can implement new parameters to enhance risk mitigation factors in volatile market environments that are moving fast,” Aave founder and CEO Stani Kulechov told Decrypt. “It’s been fascinating to watch the DeFi community discuss, propose, vote and implement new parameters—with incredible transparency—to adapt and safeguard the protocol. This is what DeFi is all about.” 

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