PANews reported on November 7th that Aave founder and CEO Stani.eth (@StaniKulechov) stated that the risk control team, Gauntlet, has suspended Compound withdrawals. Due to the deUSD de-pegging issue, users are unable to withdraw funds when there is a risk of bad debt, resulting in a "locked-up" status. He stated that this suspension is a proactive risk mitigation measure, and that "this asset should not be included in the main market." Data shows that the deUSD stablecoin began to de-peg severely last night, and has now decoupled to $0.1, with its total market value dropping from tens of millions to millions of dollars.PANews reported on November 7th that Aave founder and CEO Stani.eth (@StaniKulechov) stated that the risk control team, Gauntlet, has suspended Compound withdrawals. Due to the deUSD de-pegging issue, users are unable to withdraw funds when there is a risk of bad debt, resulting in a "locked-up" status. He stated that this suspension is a proactive risk mitigation measure, and that "this asset should not be included in the main market." Data shows that the deUSD stablecoin began to de-peg severely last night, and has now decoupled to $0.1, with its total market value dropping from tens of millions to millions of dollars.
Aave founder: Gauntlet has suspended Compound withdrawals.
PANews reported on November 7th that Aave founder and CEO Stani.eth (@StaniKulechov) stated that the risk control team, Gauntlet, has suspended Compound withdrawals. Due to the deUSD de-pegging issue, users are unable to withdraw funds when there is a risk of bad debt, resulting in a "locked-up" status. He stated that this suspension is a proactive risk mitigation measure, and that "this asset should not be included in the main market."
Data shows that the deUSD stablecoin began to de-peg severely last night, and has now decoupled to $0.1, with its total market value dropping from tens of millions to millions of dollars.
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