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Aave Borrowers Hit With 36% Interest Rates During Deposit Freeze
(8 hours ago) · 1 source · Summarized by CryptoBipto
Borrowers on the Aave decentralized lending protocol faced interest rates as high as 36% APR after the platform froze new collateral deposits. The freeze was reportedly triggered in connection with a Binance hack, preventing users from adding fresh collateral to manage their positions.
WHY IT MATTERS
Think of Aave like a digital pawnshop where you deposit crypto as collateral and borrow other crypto against it.
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SOURCES
- cryptoslate.com
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AAVEBNBDeFiAaveLending ProtocolsInterest RatesProtocol Governance
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