Popular DeFi platform, Aave, has temporarily halted lending markets for 17 Ethereum-based tokens comprising 5 stablecoins as the market situation of these assets is currently volatile.
This decision was taken after a trader recently borrowed a total of 92 million CRV from Aave using $58 million in USDC as collateral, affecting its value for everyone else and leaving the open source liquidity protocol with around $1.6 million in debt.
To this effect, Llama and Chaos Labs issued a proposal to pause these tokens as an extra precaution, which the community approved with 100% votes in favor.
Concerned lending markets include yearn.finance, Curve DAO, 0x, Decentraland, 1inch, Basic Attention Token, Ampleforth, DeFi Pulse Index, renFIL and Maker, Enjin, xSUSHI and five stablecoins are sUSD, GUSD, RAI, USDP, and LUSD.
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