Aave community votes to stop Polygon PoS on-chain lending, Polygon may lose more than $300 million in TVL

Odaily News The Aave community voted overwhelmingly to stop lending services on the Polygon PoS chain, mainly because of opposition to Polygon's proposal last December to use over $1 billion in cross-chain stablecoins for revenue generation. Aave founder Marc Zeller proposed strict risk parameters to prevent users from making further deposits or borrowing. He believes that Polygon's revenue generation method is too risky and may lead to bad debt problems. Aave is the largest decentralized application on Polygon, with a TVL of over $300 million. Polygon Labs CEO Marc Boiron once said that the ideal result would be for Aave to abandon its plan to terminate the cooperation, but Aave DAO has passed relevant proposals to adjust the stablecoin LTV to 0% to prevent users from borrowing. Currently, more than 690,000 votes are in favor of leaving Polygon, and about 117,000 are against.