Aave Winds Down Underused Assets, Phases Out Blockchain Deployments

Aave, the decentralized finance lending protocol, has announced plans to phase out underused assets and services operating on some blockchains. According to BlockBeats, founder Stani Kulechov stated that after a thorough review, Aave will gradually wind down support for 50 low-usage asset reserves.

The affected assets include those on Sonic (S), Scroll (SCR), zkSync (ZK), and Aptos (APT) blockchain networks. This move affects a total of $98.1 million in assets and $15.6 million in loans.

Aave also plans to remove expired Pendle (PENDLE) principal token, or PT, assets from its list of supported assets. Existing expired assets will be replaced with new PT assets carrying updated maturity dates.