The Aave communitys proposal to characterize the November 4th security incident as a shortage incident was not approved

Odaily News Snapshot page shows that the Aave community’s proposal to “characterize the November 4th security incident as a shortage incident” was not voted on, and the final opposition rate was 95.79%. The proposal states that users lost funds in the above incident as assets were frozen/suspended. Users reported two types of losses: losses due to liquidation, and losses due to high interest rates and accrued interest, so this event meets the definition of a shortage event. If this temperature check is approved, the next step is to activate the security module. It is reported that the role of the AAVE security module is to protect the protocol from unexpected financial losses when shortfall events occur in the AAVE protocol. If a shortage event occurs, the security module will use up to 30% of the locked pledged assets to conduct an auction to make up for the deficit. If the amount seized from the security module is insufficient to cover the entire debt, a temporary mechanism called Recovery Issuance will be triggered. , to issue additional AAVE and use it together with the funds withdrawn from the security module to cover the deficit.