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Users reported issues with the AAVE app, specifically in repaying loans and withdrawing funds, leading to significant losses due to automatic liquidation during market dips. Various potential causes and solutions were suggested, including buggy APIs, rate limitations, and issues with USDT approval mechanics, but it seems further investigation and app updates may be necessary to fully resolve these issues.
The discussion primarily revolves around users experiencing issues with the AAVE app, particularly when attempting to repay loans or withdraw funds. User Archmaster reported an error message when trying to repay a $10,000 BUSD loan with wETH as collateral, despite having sufficient ETH for gas fees. This issue led to an automatic liquidation during a market dip, causing significant loss1,3. This issue was echoed by Trey1975us and CryptoDude100, who also faced difficulties withdrawing their funds2,4,8,9.
Several users, including Windsurf, Jsimo01, and Aaveuser, reported issues with repaying their USDT loans on AAVE and swapping between USDC and WBTC on AAVE v2, Avalanche network. They encountered error messages related to the approval mechanics of USDT on Ethereum Mainnet and building transaction parameters 12,15,16,19.
Various suggestions were made to address these issues. Sakulstra suggested that the error could be due to a buggy API, rate limitations, or an address being blocked, and recommended reporting the issue on the AAVE interface repo on GitHub6. Spartan suggested that the error could be due to a failure in fetching a swap rate from the Paraswap API and recommended clearing the browser cache and retrying10. Harshjv explained that the USDT smart contract won't allow updating the approval limit without first resetting it to 0 and suggested users to revoke the approval for Aave and then repay their debt from Aave frontend18.
In conclusion, the discussion highlighted several issues with the AAVE app, particularly with repaying loans and withdrawing funds. Various suggestions were made to address these issues, but it appears that further investigation and potential updates to the app may be necessary to fully resolve them.
Posted 2 years ago
Last reply 3 months ago
Summary updated 2 months ago
Last updated 09/12 13:53