Why Aave Proposes Quitting 6 Blockchains that Earn Under $5,000 a Quarter

Why Aave proposes quitting 6 blockchains that earn under $5,000 a quarter

A governance proposal would shut deployments on Sonic, Scroll, zkSync, Metis, Soneium and Aptos, and retire 50 asset markets elsewhere. Deposits on some have fallen more than 90%.

Aave moves to wind down six chains in $98M cleanup

Aave proposes winding down six networks and 96 reserves, affecting $98.1 million supplied and $15.6 million in outstanding debt.

Aave Deprecates 50 Low-Adoption Assets and Winds Down Six Chain Deployments

Aave is deprecating 50 low-adoption asset reserves across its lending markets and winding down its deployments on six blockchains. In a July 30 post on X, founder Stani Kulechov noted that the move touches $98.1 million in supply and $15.6 million in debt and comes wrapped in two new internal rulebooks meant to keep the protocol from carrying assets nobody is really using. Aave Commences Plan to Offboard Low Activity Reserves “Aave is deprecatin…

Aave to exit Sonic, Scroll, Aptos, and three other blockchain markets affecting $98 million in supplied assets

Aave is moving to deprecate 50 low adoption reserves and wind down six deployments covering $98.1 million in supply and $15.6 million in debt. The post Aave to exit Sonic, Scroll, Aptos, and three other blockchain markets affecting $98 million in supplied assets appeared first on Crypto Briefing.

Aave Founder Says Asset Wind-Downs Driven By Risk Reduction, Not Layer 1 Or Layer 2 Strategy Shift

Aave founder Stani Kulechov has clarified that the protocol’s recent decision to decommission dozens of low-adoption assets and six blockchain deployments is strictly a risk-management exercise and should not be interpreted as a statement on the viability of any Layer 1 or Layer 2 network.  In a post on social media platform X, he explained that the goal is to shrink Aave’s operational, technical, and economic risk surface so the decentralised l…