@StaniKulechov: Aave working on orderly resolution after $70M ETH recovery

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@StaniKulechov
@StaniKulechov

The past few days have been intense, but I wanted to give some updates as we continue to work on this. Our priority is our users, and every decision we are making is aimed at an orderly return to normal market conditions and the best possible outcome for everyone involved. Working around the clock, the team has made progress on multiple paths forward with several partners. The Arbitrum Security Council also recovered $70 million in ETH, which could meaningfully reduce the potential exposure, and multiple discussions and solutions are being considered. I am confident we will move towards a strong resolution. Reviewing what happened and learning from it matters. But pointing fingers is not something that gets us to the other side of this. Every bit of my energy right now is focused on the outcome for Aave users and the protocol. Aave has been my life's work, and this is an important moment for DeFi as much as it is for Aave. I am deeply grateful for the support and collaboration we have received from builders and partners across the industry. We’ll get through this together and we’ll continue to publish updates on @aave as they happen.

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Aave working on orderly resolution after $70M ETH recovery

AI summary of the linked article

Aave founder Stani Kulechov says the protocol is working toward an orderly resolution after recent events, with the priority being its users. He writes that the team has made progress on multiple paths forward with several partners. The Arbitrum Security Council recovered $70 million in ETH, which could meaningfully reduce potential exposure, and he says he is confident of a strong resolution.

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