Aave Developers Want to Stop Phantom Integration Due to Potential Vulnerabilities

Aave developers have put on their agenda to stop the Fantom integration due to potential security vulnerabilities. Marc Zeller, head of integration for DeFi platform Aave, suggested freezing the platform’s v3 Phantom market. Fantom is a smart contract platform currently bridged by Aave.

Regarding the removal of the Phantom integration, Zeller said:

“After the Harmony bridge incident and the Nomad bridge exploit, the Aave community should consider the benefits and risks of keeping an active Aave V3 market on Fantom”

Zeller also noted that the gain from this integration is very low. The Phantom market in Aave only generates $300 a day for the protocol, of which only $30 goes to the Aave Treasury.

The Aave community will hold a vote on the matter in five days. The Aave team said the following on the subject:

“The risk of potentially losing millions of dollars for reasons not derived from Aave is not worth the $30 per day profit.”

Aave’s Stablecoin Project Approved

Aave’s over-collateralized stablecoin project, named GHO, has received approval from the Aave DAO.

The Aave community reacted strongly to this approval, claiming that the end of the protocol would be like Terra.

Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.