The community for Aave, the leading DeFi lending protocol, will soon start voting on a proposal to rectify recently identified security vulnerabilities across its v2 and v3 deployments. The proposal would also restart several markets paused by the protocol on Nov. 4.
BGD Labs, a cohort of web3 developers and Aave contributors, uploaded the proposal on Nov. 7, with voting set to commence on Nov. 8. Voting will close on Nov. 11. The proposal relates to all pools offering stable rates in addition to variable interest for borrowers, effectively ceasing the minting of new stable debt tokens.
“In response to an attack vector reported by a white-hat, some immediate steps were taken to protect the Aave Pools by pausing, freezing, and disabling stable borrowing on the affected assets,” BGD Labs said. “Upon further investigation it turned out to be necessary to also prevent new minting of StableDebt.”
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#undefined [Source: TheDefiant]