Stuck on V1 and need advice

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The discussion focused on the challenges of migrating from Aave V1 to V3, including high Ethereum fees and fund security. Solutions suggested included waiting for lower gas fees, considering Layer 2 markets like Polygon or Arbitrum, and the potential for a V2 to V3 bridge, while assuring that funds in Aave V1 are secure due to smart contract operation.

The discussion primarily revolved around the concerns of migrating from Aave V1 to V3, raised by Tombundy. The user was particularly worried about the high Ethereum fees and potential risks to their funds during the migration process. They also inquired about the possibility of a bridge between V1 and V3 and the impact of Ethereum 2.0 on migration fees.

Responding to these concerns, EzR3aL clarified that the funds in Aave V1 are secure as it operates on a smart contract that cannot be closed. They also shed light on the migration process, stating that a direct bridge from V1 to V3 might not be available, but a bridge from V2 to V3 could be a possibility. They further advised Tombundy to wait for a period of lower gas fees before proceeding with the migration directly to V3. They suggested considering a Layer 2 market like Polygon or Arbitrum to save on fees.

In conclusion, while the migration from Aave V1 to V3 does come with its set of challenges, such as high Ethereum fees, there are strategies to mitigate these issues. Waiting for lower gas fees and considering Layer 2 markets were recommended. The discussion also highlighted the security of funds in Aave V1, assuring users that their investments are safe.

Posted 2 years ago

Last reply 2 years ago

Summary updated 2 months ago

Last updated 09/12 13:53