Aave announced it will shut down six blockchain markets—Sonic, Scroll, zkSync, Metis, Soneium, and Aptos—and deprecate 50 low-activity asset reserves to reduce economic and technical risks. This move impacts about $98.1 million in supplied assets and $15.6 million in outstanding debt. The decision follows a review by risk service provider LlamaRisk, highlighting that these markets and reserves have low usage and generate insufficient revenue to justify maintenance costs. Aave will gradually wind down affected reserves, freezing new deposits and encouraging users to exit positions before fully discontinuing the markets.
Aave's token price fell 4% in 24 hours, failing to break the $100 resistance after reaching $101.57. Selling pressure is evident from declining Open Interest and negative Funding Rates, signaling a bearish market sentiment. The protocol plans to cut ...
Audiera's price surged 8.8% to $4.17, driven by recent partnerships with major music labels that boost its decentralized music streaming platform's profile. This rise positions Audiera as a key player in the crypto music space amid mixed altcoin mark...
Aave plans to shut down its operations on six blockchains—Sonic, Scroll, zkSync, Metis, Soneium, and Aptos—due to low usage and revenue, impacting about $98 million in deposits. These chains generate less than $5,000 in quarterly revenue each, far be...
Aave intends to remove $98.1 million in underused crypto reserves and close six blockchain deployments to reduce risks and maintenance costs. This move is part of a broader strategy to focus on more active markets and improve risk management ahead of...
Aave announced a proposal to retire 50 low-adoption asset reserves and 21 matured Pendle tokens, and to wind down six smaller blockchain deployments holding $12.8 million in supply and $4.1 million in debt. This move aims to reduce operational costs ...
