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.
