A bug in an older model of the Aave crypto lending protocol prevents customers from interacting with the Wrapped Ether (WETH), Tether (USDT), Wrapped Bitcoin (WBTC), or Wrapped Matic (WMATIC) swimming pools on Aave V2 Polygon, stopping that property be withdrawn from them, based on a Could 19 proposal making an attempt to take action fix repair the bug with a patch. The proposal states that customers are presently unable to "deposit, borrow, repay or withdraw extra of those property".
Though withdrawals are presently not doable, the crew acknowledged that the funds are "completely secure" because the bug could possibly be fastened after a governance vote.
.@AaveAave The newest improve of ReserveInterestRateStrategy in Aave V2 (Polygon) has brought on the protocol to be quickly halted, impacting roughly $110 million price of property!
The primary purpose is that the brand new ReserveInterestRateStrategy is simply appropriate with Ethereum and never with Polygon. https://t.co/kg5696QNPo pic.twitter.com/Ze3zSBS8Ck
— BlockSec (@BlockSecTeam) May 19, 2023
The bug solely impacts Aave V2 on Polygon. AaveV3, the latest model, stays unaffected, as do V2 deployments on Ethereum or Avalanche.
The buggy code was created on account of a Could 16 yield curve patch applied for all deployments of V2. The Polygon implementation of V2 makes use of a barely completely different record of perform definitions (a so-called “interface”) for his or her collective bargaining agreements in comparison with the Ethereum and Avalanche implementations. Nevertheless, the modifications within the yield curve didn't take this distinction under consideration, so the error solely occurred with polygon deployment.
The brand new proposal asks Aave's governing physique, Aave DAO, to approve code modifications for the Polygon model solely to repair the patch. Voting is scheduled to start on Could 20 and final by Could 23, the proposal stated.
Associated: Aave DAO votes "Rescue Plan" to rescue misplaced tokens
Aave is finest recognized for its flash lending characteristic, which permits customers to borrow cryptocurrencies, transact trades, and repay the loans throughout the similar block, with no collateral required. It began on Ethereum however has unfold to different networks lately. On April seventeenth, the Aave governance voted to deploy the protocol on zkSync Period, a layer 2 of Ethereum that makes use of zero-knowledge know-how. On Could eighth, Aave V3 was deployed on the Metis community, which can be a layer 2 of Ethereum.
