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 below maintenance costs. The move aims to reduce costs and risks by freezing new activity and making borrowing expensive to encourage users to exit voluntarily. This follows Aave's broader strategy to focus on more profitable markets and improve financial sustainability.
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...
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 ...
Aave, a major decentralized lending protocol, is removing 75 low-adoption asset markets and exiting six blockchain networks to reduce risk and concentrate on its most active markets. This includes shutting down deployments on Sonic, Scroll, zkSync, M...
Revolut moved over $6.44 million worth of AAVE from cold wallets to Coinbase in one day, raising concerns about increased supply hitting exchanges. Despite this, AAVE's price structure remained stable as traders debated if the move was profit-taking ...
