Aave to Retire 50 Asset Reserves, Wind Down Deployments on Six Networks

Aave plans to phase out 50 low-adoption asset reserves and wind down deployments on the Scroll, Sonic, zkSync, Aptos, Metis, and Soneium networks, according to founder Stani Kulechov.

The decentralized lending protocol will also retire 21 matured Pendle principal tokens as part of the initiative. The proposed changes affect approximately $98.1 million in supplied assets and $15.6 million in outstanding debt. Kulechov said the move is intended to reduce the protocol’s economic and technical risks. 

Aave is the largest DeFi lending protocol by total value locked, with approximately $14.5 billion deployed across 23 blockchain networks.

Source: Stani Kulechov