The lending protocol Aave community has previously responded to Polygon's proposal that "the US$1.3 billion of idle stable reserves across chain bridges will be used for interest-earning income." This proposal plans to withdraw Aave from Polygon due to concerns about the adoption of the Polygon proposal. Possible risks of cross-chain bridge attacks. (Preliminary briefing: Ethereum staking revenue is permanently declining? Aave integrates Chainlink SVR or rewrites the DeFi landscape) (Background supplement: AAVE currency price reaches its previous high? Chainlink’s help is expected to increase revenue by tens of millions of magnesium every year) Web3 Risk Asset Management Agency Allez Labs Together with DeFi protocols Morpho and Yearn, they co-authored a "Pre-Polygon Improvement Proposal (Pre-PIP)" on the 13th of this month, hoping to seek the consent of the Polygon community to deploy the $1.3 billion stablecoin reserve of the Polygon PoS Portal Bridge on the liquidity pool. , in order to stimulate Polygon's DeFi ecosystem. The proposal estimates that using the $1.3 billion in idle stable reserves across the chain bridge as interest-earning income could reduce opportunity costs by $70 million per year. The Aave community is considering withdrawing from Polygon. However, amid heated discussions in the community, the Aave community, a well-known lending protocol, is evaluating whether to withdraw from Polygon due to concerns about the potential consequences of the Pre-PIP proposal proposed by Allez Labs if it is passed. risk. Marc Zeller, founder of the Aave contributor team ACI, proposed to withdraw from the Polygon lending service on the 13th, aiming to protect the Aave protocol from potential security risks. Zeller recommended adjusting the risk parameters for Aave v2 and v3, and stated that these adjustments are in response to proposals that Polygon is currently evaluating: These adjustments are in response to an upcoming proposal that may significantly change the risk of cross-chain assets in the Polygon network configuration. Zeller added that from historical experience, cross-chain bridge vulnerabilities are the most costly category in the DeFi ecosystem: The Aave ecosystem has experienced the indirect and direct impact of bridge vulnerabilities, especially Multichain and Harmony bridge hacking attacks. Additionally, depositing user funds into unsecured protocols has historically resulted in significant losses. For example, Angle Protocol deposited EURA funds into Euler a week before the hack, causing EURA to temporarily lose its peg, impacting Aave users. In response, another Aave governance representative, EzR3aL, also supported Zeller’s proposal. Polygon co-founder: Aave's proposal to withdraw from polygon is like a "sour grapes" mentality. However, according to DLNews, Polygon Labs CEO Marc Boiron responded to Aave's proposal to withdraw from polygon during an interview. He first said that the 1.3 billion reserved stable currency The investment proposal is still in its preliminary stages and it is estimated that it will take several months before it can be formally implemented. Next, Boiron criticized Aave’s proposal as being meant to oppress DeFi competitors Morpho and Yearn: This is equivalent to saying that we have the ability to hurt you, we are the big players here, and we have all the power. Combining this attitude with Aave's actions is an anti-competitive behavior. In addition, Polygon co-founder Sandeep Nailwal also issued a long tweet on the 18th criticizing the Aave leadership and saying that the Aave community proposal ignored Polygon's existing security measures. , it feels more like a "sour grapes" mentality: In order to emphasize the pertinence of this attack, a well-known Aave leader even wrote on Twitter: "Operation Polygon (e)". This is extremely monopolistic and anti-competitive behavior by Aave’s leadership and completely inconsistent with the spirit of Web3. This is a striking example of DAO leadership engaging in anti-competitive tactics and bullying the rest of the ecosystem into playing to their tune. But in response to the Polygon team's criticism, Aave's leadership said they were simply taking a strong and firm stance against an unpopular and high-risk proposal. BIG UPDATE REGARDING STAKE THE BRIDGE AND AAVE SITUATION! A few days back @AllezLabs and @Yearnfi put up a “Pre-PIP”, a proposal for the proposal, to enable staking of Polygon PoS bridge funds. The Polygon community made their voice heard and was generally against the proposal.… https://t.co/BVyD8tGtXN — Sandeep WILDER (※,※) (@sandeepnailwal) December 17, 2024 Related reports The world has entered a monetary easing cycle. Can AAVE lead the renaissance of DeFi? Aave is the 64th largest bank in the world with 30 billion US dollars in deposits, surpassing thousands of banks in the United States. The Trump family has added more positions in DeFi! Buying ONDO, AAVE, and ENA tokens, holdings exceed 80 million Mg. "Aave detonated 1.3 billion Mg "Polygon chain withdrawal" crisis, Polygon founder said: Monopoly is not in line with the spirit of web3" This article was first published in Dongzhu BlockTempo (the most influential blockchain news media).

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