Aave to Retire Six Blockchain Deployments in Cost-Cutting Move
Aave, recognized as the leading decentralized lending protocol, intends to cease operations on six blockchains—Sonic, Scroll, zkSync, Metis, Soneium, and Aptos. This decision aims to cut expenses and concentrate on networks exhibiting greater user engagement. Crafted by LlamaRisk, the proposal is currently undergoing governance evaluation and impacts $13 million in deposits, which is less than 1% of Aave's total locked value of $14 billion. Each of the identified networks earns below $5,000 per quarter, with Metis, Soneium, and Aptos generating less than $1,000. There has been a significant drop in user activity, with Sonic deposits decreasing by 74% to $7.6 million and Aptos down 94% to $1.7 million. The transition will include freezing markets and increasing reserve factors, and the proposal is at the ARFC stage pending community approval.
Key facts
- Aave plans to shut down deployments on Sonic, Scroll, zkSync, Metis, Soneium, and Aptos.
- The proposal affects nearly $98 million in supplied assets.
- Each targeted network generates less than $5,000 in quarterly revenue; Metis, Soneium, and Aptos each under $1,000.
- Ethereum generates over $142 million annually; Base contributes about $4.7 million per year.
- Deposits on the six networks have fallen sharply, e.g., Sonic down 74% to $7.6 million, Scroll down 86% to $2.2 million.
- The proposal includes removing 50 low-adoption asset reserves, 21 matured Pendle Principal Tokens, and 25 reserves tied to the affected blockchains.
- Transition will be phased: markets frozen to new deposits, borrowing, and collateral usage; reserve factor raised to 99%.
- The proposal is in the ARFC stage and must pass community discussion, Snapshot vote, and on-chain AIP.
- Founder Stani Kulechov described the initiative as a risk-reduction measure.
Entities
Artists
- Stani Kulechov
Institutions
- Aave
- LlamaRisk
- Stader Labs
- NFT Plazas
Locations
- Sonic
- Scroll
- zkSync
- Metis
- Soneium
- Aptos
- Ethereum
- Base