{"id":63177,"date":"2022-06-20T17:54:52","date_gmt":"2022-06-20T14:54:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63177"},"modified":"2025-09-05T22:32:06","modified_gmt":"2025-09-05T19:32:06","slug":"makerdao-halts-aave-related-lending-operations","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/makerdao-halts-aave-related-lending-operations\/","title":{"rendered":"MakerDAO halts Aave-related lending operations"},"content":{"rendered":"<p>The MakerDAO DeFi platform community voted to disable Aave from the direct-deposit module. The decision was prompted by Celsius Network taking out a 100 million DAI loan backed by stETH via a crypto-lending project.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Due to market conditions, the Maker Governance voted to disable the <a href=\"https:\/\/twitter.com\/AaveAave?ref_src=twsrc%5Etfw\">@AaveAave<\/a> D3M.<\/p>\n<p>According to the Urgent Signal Request posted on the recommendation of the Risk Core Unit, this is a preventive measure against potentially unacceptable risks to the Maker Protocol.<\/p>\n<p>\u2014 Maker (@MakerDAO) <a href=\"https:\/\/twitter.com\/MakerDAO\/status\/1537823352248836096?ref_src=twsrc%5Etfw\">June 17, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The initiative will effectively exclude Aave users from borrowing DAI, using <a href=\"https:\/\/forklog.news\/chto-takoe-likvidnyj-stejking\/\">staked Ether<\/a> on Lido Finance as collateral.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The reason we see this risk is that half of the 200 million DAI borrowed on Aave is backed by Celsius and mainly secured by stETH. [\u2026] Contagion risks in DeFi are increasing&#8221;<\/em>, \u2014 <a href=\"https:\/\/forum.makerdao.com\/t\/signal-request-set-the-aave-d3m-dc-to-0-zero\/15775\/14\">wrote<\/a> one of the risk-management team members at MakerDAO.<\/p>\n<\/blockquote>\n<p>A forced liquidation of Celsius&#8217;s position on Aave could lead to additional selling of stETH and threaten the repayment of borrowed DAI.<\/p>\n<p>The decision will be reviewed on July 1.<\/p>\n<p>According to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-18\/defi-platform-makerdao-pauses-some-aave-related-lending-activity#xj4y7vzkg\">Bloomberg<\/a>, to reduce stETH-related risks in Aave, MakerDAO proposed freezing operations with the token and raising the position-liquidation threshold from 81% to 90%. In the DeFi community, the proposed measures were called &#8220;an unacceptable risk&#8221; and a bespoke solution.<\/p>\n<p>On June 13, the Celsius crypto-lending platform <a href=\"https:\/\/forklog.news\/tsena-tokena-celsius-obvalilas-na-50-na-fone-priostanovki-vyvoda-sredstv\/\">suspended<\/a> withdrawals, exchanges, and transfers between accounts &#8220;due to extreme market conditions&#8221;. The project token fell by 50%.<\/p>\n<p>There were reports that Celsius <a href=\"https:\/\/forklog.news\/smi-celsius-nanyala-citigroup-dlya-poiska-vozmozhnyh-variantov-finansirovaniya\/\">hired<\/a> Citigroup to explore possible financing options, while leading investors <a href=\"https:\/\/forklog.news\/smi-celsius-nanyala-citigroup-dlya-poiska-vozmozhnyh-variantov-finansirovaniya\/\">did not express<\/a> a desire to rescue the company.<\/p>\n<p>As reported, Georgetown University Law Professor Adam Levitin called Celsius&#8217;s bankruptcy practically inevitable.<\/p>\n<p>Earlier, an expert <a href=\"https:\/\/forklog.news\/ekspert-opisal-potentsialnyj-stsenarij-destabilizatsii-kursa-dai\/\">described<\/a> for ForkLog a potential scenario for DAI price destabilisation.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The MakerDAO DeFi platform community voted to disable Aave from the direct-deposit module. The decision was prompted by Celsius Network taking out a 100 million DAI loan backed by stETH using a crypto-lending project.<\/p>\n","protected":false},"author":1,"featured_media":63178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1212,1099,1100],"class_list":["post-63177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aave","tag-dai","tag-makerdao"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63177"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63177\/revisions"}],"predecessor-version":[{"id":63179,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63177\/revisions\/63179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63178"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}