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Aave · closed proposal

# Freeze agEUR on Aave v3 Polygon

0xf71f…1e02·ended 57y ago·MEDIUM RISK
Voters
60
AAVE voted
477934087552508.38B
≈$43554133398660088.00B
Token price
$91.13

AI summary

This proposal suggests temporarily freezing agEUR, a Euro-pegged stablecoin, on Aave v3 Polygon. The action is a precautionary measure following an exploit on Midas Protocol, which slightly impacted agEUR's collateralization. Freezing means that users will not be able to deposit or borrow agEUR on Aave v3 Polygon, but existing positions will remain open.

Impact

If passed, users will be unable to open new agEUR positions or add to existing ones on Aave v3 Polygon, potentially reducing liquidity for agEUR holders on that platform. This aims to protect Aave users from potential risks associated with agEUR's collateralization, but it might inconvenience those who rely on agEUR for lending or borrowing on Aave Polygon.

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Voting results

For786986584491.27B (0.2%)
Against477147100968017.13B (99.8%)
Abstain0 (0.0%)
477934087552508.38B AAVE · ≈$43554133398660088.00B · 60 votersblock 2023-01-18T16:09:59Z

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Full proposal

Original markdown · Aave

Freeze agEUR on Aave v3 Polygon

FREEZE-AGEUR-V3-POLYGON

Author(s): BGD Labs (@bgd-labs)

Simple Summary

Following the exploit on Midas Protocol, slightly affecting the collateralization of agEUR, this proposal temporarily freezes agEUR.

Motivation

Even if agEUR collateralization doesn't seem threatened by the loss on Midas protocol exploit, it is important for the community to decide if a freezing should be executed, for caution.

Specification

This is a cross-chain governance proposal for Aave v3 Polygon. The proposal payload simply executes setReserveFreeze() on the…

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