$120 Million Of Aave Funds Stuck In Polygon, Good For Bears?

$120 Million Of Aave Funds Stuck In Polygon, Good For Bears?


Following a recent update, over $120 million of Aave v2, a decentralized finance (DeFi) protocol for lending and borrowing tokens, user assets are “stuck” on Polygon.

Bug On Aave v2 On Polygon

The bug affecting withdrawals from Aave v2 deployed on Polygon, an Ethereum side-chain, has been pinned to the recent implementation of “proposal 224”. 

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Proposal 224 sought to make parameter changes “for the benefit of the protocol” in light of “shifts in the crypto market .” The adjustment received majority support and was implemented. 

However, after the execution, the DeFi protocol was notified of several issues affecting the interest rate strategy contracts applied to the wrapped versions of Bitcoin, Ethereum, MATIC—the native currency of Polygon, and USDT—the world’s most liquid stablecoin.

The development team has

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