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The Aave community voted to pass the proposal to "restart the Ethereum mainnet and Aave v3 CRV lending on Polygon"

The Aave community voted to pass the proposal to "restart the Ethereum mainnet and Aave v3 CRV lending on Polygon"

CointimeCointime2023/11/26 08:21
By:Cointime

On November 26th, according to the Snapshot voting results, the Aave community voted in favor of the proposal to "restart Aave v3 CRV lending on the Ethereum mainnet and Polygon" initiated by DeFi risk manager Gauntlet. The proposal stated that during the Vyper vulnerability attack, CRV lending was disabled on Ethereum and Polygon v3 to avoid mitigating the drop in CRV prices due to excessive CRV positions on v2. Currently, most of the high-risk CRV positions have left, and Gauntlet recommends restarting CRV lending.

Due to the utilization of v3 lending on Ethereum, the supply limit has decreased from 51 million to 7.5 million, the borrowing limit has decreased from 7.7 million to 5 million, and the debt limit has decreased from 5 million to 1 million. On Polygon, the borrowing limit for v3 has decreased from 900,000 to 300,000 due to low utilization.

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