Aave Cuts Risk Exposure with Wide-Ranging Protocol Cleanup

Aave's founder Stani Kulechov has announced plans to scrap 50 reserve assets with low adoption and wind down deployments on six chains. The affected assets include Aptos, Sonic, Scroll, zkSync, Metis, and Soneum.

The cleanup would affect $98 million in supplied assets and $15.6 million in debt. Kulechov stated that the move is aimed at reducing the protocol's risk exposure, particularly following the KelpDAO attack that drained $292M due to avoidable blind spots.

This decision is part of Aave's new Risk Framework and Technical Asset Listing Framework, which was formed by LlamaRisk in June. The framework includes active monitoring, chain, bridge, and asset risk profiles.