A bug in an older model of crypto lending protocol Aave is obstructing customers from interacting with Wrapped Ether (WETH), Tether (USDT), Wrapped Bitcoin (WBTC) or Wrapped Matic (WMATIC) swimming pools on Aave V2 Polygon, stopping property from being withdrawn from them, in response to a Might 19 proposal that makes an attempt to repair the bug via a patch. The proposal says that customers are at present unable to “provide extra of these property, borrow, repay, or withdraw.”
Though withdrawals are at present inconceivable, the group acknowledged that funds are “completely protected,” because the bug might be fastened after a governance vote.
.@AaveAave the most recent improve of ReserveInterestRateStrategy in Aave V2 (Polygon) has induced a brief halt of the protocol, impacting property value ~$110M!
The foundation trigger is the brand new ReserveInterestRateStrategy is simply suitable with Ethereum, not suitable with Polygon. https://t.co/kg5696QNPo pic.twitter.com/Ze3zSBS8Ck— BlockSec (@BlockSecTeam) Might 19, 2023
The bug solely impacts Aave V2 on Polygon. AaveV3, which is the newest model, stays unaffected, as does V2 deployments to Ethereum or Avalanche.
The damaged code arose due to a Might 16 rate of interest curve patch utilized to all deployments of V2. The Polygon implementation of V2 makes use of a barely completely different checklist of perform definitions (known as an “interface”) for its fee technique contracts in comparison with the Ethereum and Avalanche implementations. However the rate of interest curve adjustments didn’t take into consideration this distinction, inflicting the bug to develop solely within the Polygon deployment.
The brand new proposal asks Aave’s governing physique, Aave DAO, to approve code adjustments to solely the Polygon model to repair the patch. Voting is scheduled to start on Might 20, and can proceed till Might 23, the proposal acknowledged.
Associated: Aave DAO votes for ‘rescue plan’ to save lots of misplaced tokens
Aave is most well-known for its flash mortgage characteristic that permits customers to borrow crypto, make trades, and pay again the loans throughout the identical block with out requiring collateral. It started on Ethereum, however has been increasing into different networks over the previous few years. On April 17, Aave governance voted to deploy the protocol on zkSync Period, a layer 2 of Ethereum that makes use of zero-knowledge proof expertise. On Might 8, Aave V3 deployed to the Metis community, which can be a layer 2 of Ethereum.
