Bug renders assets inaccessible for Polygon Aave V2 lending pool users

The execution of a recent proposal gave rise to a bug that prevents Polygon Aave V2 lending pool users from accessing their stablecoin and wrapped crypto assets.
Dot
May 20, 2023
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

TABLE OF CONTENTS
Photo Source: Binance Academy

The execution of a recent proposal gave rise to a bug that prevents Polygon Aave V2 lending pool users from accessing their stablecoin and wrapped crypto assets.

On May 17, the Aave team applied the changes put forth by proposal 224. The proposal, which received 100% votes from the Aave (AAVE) community, sought to make parameter changes to the Ethereum, Avalanche, and Polygon Aave V2 lending pools.

However, developers at BGD Labs soon reported that the implementation of the rate changes caused a bug in the Polygon Aave V2 pool. 

According to them, Polygon Aave V2 required modifications to the interface for the rate strategy contracts to remain compatible with Aave’s LendingPool. Unfortunately, proposal 224 lacked any provisions to fix the compatibility issue.

As a result, users affected by the bug have been unable to borrow, repay or withdraw their Wrapped Bitcoin (WBTC), Wrapped Ether (WETH), Wrapped Matic (WMATIC), and Tether (USDT) from the Polygon Aave V2 lending market. 

It is worth noting that the issue has only impacted the Polygon Aave V2 pool. Meanwhile, the Aave V3 protocol and other V2 lending markets have remained unaffected by the bug.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


BGD Labs reassured the community that user assets are “perfectly safe” on the Aave lending pools. Moreover, developers have put forth a new cross-chain governance proposal to fix the bug caused by the changes to the new rate strategy contracts. The voting on the proposal is slated to begin on May 20 and will last until May 23.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

Bug renders assets inaccessible for Polygon Aave V2 lending pool users

HomeCrypto lending
Contents
Photo Source: Binance Academy

The execution of a recent proposal gave rise to a bug that prevents Polygon Aave V2 lending pool users from accessing their stablecoin and wrapped crypto assets.

On May 17, the Aave team applied the changes put forth by proposal 224. The proposal, which received 100% votes from the Aave (AAVE) community, sought to make parameter changes to the Ethereum, Avalanche, and Polygon Aave V2 lending pools.

However, developers at BGD Labs soon reported that the implementation of the rate changes caused a bug in the Polygon Aave V2 pool. 

According to them, Polygon Aave V2 required modifications to the interface for the rate strategy contracts to remain compatible with Aave’s LendingPool. Unfortunately, proposal 224 lacked any provisions to fix the compatibility issue.

As a result, users affected by the bug have been unable to borrow, repay or withdraw their Wrapped Bitcoin (WBTC), Wrapped Ether (WETH), Wrapped Matic (WMATIC), and Tether (USDT) from the Polygon Aave V2 lending market. 

It is worth noting that the issue has only impacted the Polygon Aave V2 pool. Meanwhile, the Aave V3 protocol and other V2 lending markets have remained unaffected by the bug.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


BGD Labs reassured the community that user assets are “perfectly safe” on the Aave lending pools. Moreover, developers have put forth a new cross-chain governance proposal to fix the bug caused by the changes to the new rate strategy contracts. The voting on the proposal is slated to begin on May 20 and will last until May 23.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

The execution of a recent proposal gave rise to a bug that prevents Polygon Aave V2 lending pool users from accessing their stablecoin and wrapped crypto assets.

On May 17, the Aave team applied the changes put forth by proposal 224. The proposal, which received 100% votes from the Aave (AAVE) community, sought to make parameter changes to the Ethereum, Avalanche, and Polygon Aave V2 lending pools.

However, developers at BGD Labs soon reported that the implementation of the rate changes caused a bug in the Polygon Aave V2 pool. 

According to them, Polygon Aave V2 required modifications to the interface for the rate strategy contracts to remain compatible with Aave’s LendingPool. Unfortunately, proposal 224 lacked any provisions to fix the compatibility issue.

As a result, users affected by the bug have been unable to borrow, repay or withdraw their Wrapped Bitcoin (WBTC), Wrapped Ether (WETH), Wrapped Matic (WMATIC), and Tether (USDT) from the Polygon Aave V2 lending market. 

It is worth noting that the issue has only impacted the Polygon Aave V2 pool. Meanwhile, the Aave V3 protocol and other V2 lending markets have remained unaffected by the bug.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


BGD Labs reassured the community that user assets are “perfectly safe” on the Aave lending pools. Moreover, developers have put forth a new cross-chain governance proposal to fix the bug caused by the changes to the new rate strategy contracts. The voting on the proposal is slated to begin on May 20 and will last until May 23.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande