🇫🇷DeFi lover ACI - Aave Chan Initiative member @kryptosphere alumni
I’d like to share an important forum post detailing why the Aave @zksync market was temporarily inaccessible via the Aave front-end and why the Aave Guardians promptly paused the market.
At @aave, security is our foremost priority.
Aave’s service providers, in collaboration with Matter Labs, have published a comprehensive post-mortem outlining the challenges encountered during the Aave deployment on zkSync—a testament to seamless teamwork.
In summary, the issue stemmed from a bug in a zkSync compiler dependency. Importantly, no funds were compromised, and no other markets were affected.
Stay safe. Just use Aave.
Read the full report here: governance.aave.com/t/bgd-aave-v3-…
Additional Aave Safeties include:
TradFi Sucks.
I just had to deal with a frustrating issue involving Amex because Orange Bank decided to shut down without properly handling the transition of automatic debits.
I had to call Amex all the way from Korea (since, of course, they don’t accept changes to banking details via email).
Got the receipt this morning and ended up paying €48.18 for the call. On top of that, my bank hit me with an extra €18.50 fee.
This is why traditional finance is such a headache.
There is how to get 1% extra cashback 💰on your Gnosis card.
Go to gnosispay.niftyfair.io/ and claim your soulbound NFT with wallet linked with Gnosis
Enjoy
Aave's expansion to Aptos: My personal perspective
Following the Aptos Experience event in Seoul, I'd like to share my personal vision on Aave's development on the Aptos blockchain.
@aave as a Catalyst for Aptos @aptoslabs
Bringing a first-class DeFi protocol like Aave to @aptos is a significant catalyst for the blockchain. A well-established protocol like Aave adds immense credibility and utility to the Aptos ecosystem—a dynamic we've seen unfold on other chains in the past.
The $14 million incentives program will:
Introduce fundamental yet essential utility to Aptos, expanding the scope of its ecosystem. Enable liquidity for Aptos tokens, allowing users to leverage them as collateral for borrowing stablecoins. Attract liquidity from other chains, encouraging users to bridge assets and deposit them into the Aave Aptos market in exchange for incentive rewards. From both Aptos' and its users' perspectives, this is a strategic and beneficial move.
Aave's Position: A Balanced View
However, when it comes to Aave, I remain somewhat cautious. The incentives are undeniably substantial (with $14 million marking the largest program, surpassing Merit’s $12 million annual incentives). This will undoubtedly help Aave expand its user base, attracting large whales as well as a mix of retail and mid-sized holders.
Yet, Aptos currently holds a Total Value Locked (TVL) of around $400 million. While this is a respectable amount, it is comparatively modest—especially when considering that Aave's recent Lido integration exceeded $500 million in just six weeks.
Move Language and the Challenges Ahead
The Move language is particularly interesting, offering typed languages for writing smart contracts, which should ensure greater clarity and safety in development. However, with any new blockchain and language, there are inherent risks. Developing in Move will require Aave to rebuild its codebase from scratch, necessitating the formation of new teams. While Aave is home to top-tier engineers, it's unrealistic to expect developers to master both Solidity and Move simultaneously. After all, we aren’t developing games—we are building smart contracts that manage significant sums of real money. Aave’s primary concern is user safety.
While I have full confidence in Avara’s ability to attract the best Move developers, my concerns lie elsewhere. Aave’s development standards are rigorous—code writing is followed by 3 to 5 peer reviews, audits, and a thorough bug bounty program. However, a robust ecosystem requires more than just top engineers. We also need highly skilled Move auditors and bug bounty hunters, and I’m not entirely convinced that Aptos currently possesses these 2 critical resources up to Aave's standard
A Long Road Ahead for Aptos
To be clear, this is not a critique of Aptos’ community, which is strong and growing. My concern is that Aptos has yet to experience the severe, painful hacks that often serve as a formative experience for auditors and bounty hunters. These challenges, while unwelcome, typically shape a more resilient and experienced security infrastructure.
Only time will tell if moving forward with this decision was the right choice. Personally, I believe it was a good move, though it may have come too early in Aptos' development.
It’s also important to note that Aave has allocated a budget for developing the Move-based codebase, and this process will take time. During this period, Aptos' ecosystem TVL and usage may fluctuate. The Aave market on Aptos, like all others, will require final approval once the codebase is fully prepared. This will be the moment to evaluate whether all the necessary requirements have been met.
Please not that I'm not involving in Aptos Aave deployment and that my personal vison not one from an other entity.
When speaking with an NFT founder, I discovered a significant potential exploit in the project, similar to one that was used against the Ape project a few years ago
Just waiting for the launch to spice it up 🌶️😄
DeFi is never dead. People may chase trends, but strong projects keep building and delivering, staying active no matter the market sentiment.
Does a new DeFi summer will happen yes. Do we care if it's happen in 1 years instead of 3 months, No
If you're using GitHub Actions, be sure to check out the Job Summary feature. It can significantly enhance your CI process. Feel free to adapt it to suit your own needs. Personally, I recently improved ACI's Merit PR safeguard workflow by incorporating it. github.blog/news-insights/product-news/supercharging-github-actions-with-job-summaries/
Merit Round 7 has concluded! Have you claimed your rewards yet?
If not, set a monthly reminder for the 1st—no rush needed to claim at exact distribution date. Just keep it simple, remember, "A new month, a new claim!"
Just use Aave !
apps.aavechan.com/merit (claim & info)