What's next for USDC.e on ARB?

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A recent incident involving the unexpected disabling of stable borrowing and removal of USDC.e from AAVE left user TooSweetTooPotato's position frozen and unable to repay a loan. The community reacted with concern, but EzR3aL assured a resolution within 6 days, alleviating some worries, while also raising questions about the platform's stability and reliability.

What is this about?

This discussion revolves around a recent incident where TooSweetTooPotato took out a loan for USDC.e on Arbitrum V3. However, the stable borrowing was unexpectedly disabled and USDC.e was removed from AAVE. This action resulted in TooSweetTooPotato's position being frozen, leaving them unable to repay the loan1.

How is the community reacting?

The community has shown concern over this incident, with many users seeking clarification and resolution. EzR3aL provided some insight into the situation, referring to a thread about an Aave v2/v3 security incident. They explained that there is no built-in mechanism to freeze interest rates and assured the community that everything would be restored in 6 days2. To maintain the integrity of the discussion, the thread was subsequently closed.

Why this is positive?

The positive aspect of this situation is the community's quick response and the assurance provided by EzR3aL. Their explanation helped to alleviate some of the concerns raised by TooSweetTooPotato and others in the community. The promise of a resolution within 6 days also provides hope for those affected by the incident.

Why this is negative?

The negative aspect of this situation is the unexpected disabling of stable borrowing and the removal of USDC.e from AAVE. This has caused distress among users like TooSweetTooPotato who found their positions frozen and were unable to repay their loans. This incident has raised questions about the stability and reliability of the platform.

Posted a month ago

Last reply a month ago

Summary updated a month ago

Last updated 05/12 01:13