Aave Weighs Closing Six V3 Blockchain Markets Amid Risk Assessment

Aave is considering closing six V3 blockchain markets and offboarding 50 low-use reserves as part of its risk management strategy. According to a proposal submitted by DeFi risk management service LlamaRisk, Aave should wind down every reserve on the Sonic, Scroll, zkSync, Metis, Soneium, and Aptos blockchains. This would affect $98.1 million in supplied assets and $15.6 million in debt.

The proposal was based on a risk assessment conducted by LlamaRisk, which found that available liquidity had decreased by 94% over six months for the Aptos blockchain. The team also recommended freezing every reserve on Scroll, zkSync, Metis, and Soneium, as these blockchains were already experiencing difficulties.

Aave founder Stani Kulechov stated in a post that this decision would reduce Aave's economic and technical risk surface as part of the new Aave Risk Framework and Technical Asset Listing Framework. He emphasized that Aave will continue to apply continuous risk assessment for all assets across all deployments, refocusing on select protocols rather than reversing its multichain expansion strategy.