# \[ARFC\] Disable Borrow of agEUR on Aave V3 Polygon **URL:** \ **Category:** Governance\ **Created:** [March 13, 2023, 3:24pm UTC](https://governance.aave.com/t/arfc-disable-borrow-of-ageur-on-aave-v3-polygon/12275 "2023-03-13T15:24:22Z")\ **Posts on this page:** 6\ **Page:** 1
**Author:** ![ChaosLabs](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/chaoslabs/32/6850_2.png) [@ChaosLabs](https://governance.aave.com/u/ChaosLabs)\ **Post date:** [March 13, 2023, 3:24pm UTC](https://governance.aave.com/t/arfc-disable-borrow-of-ageur-on-aave-v3-polygon/12275/1 "2023-03-13T15:24:22Z")
## **Summary** This ARFC proposes to disable borrows of agEUR on the Aave V3 Polygon market. ## **Motivation** Following the recent exploit on Euler, Angle Protocol has announced [having $17.6M of USDC deposited into the protocol](https://twitter.com/AngleProtocol/status/1635293731082612738), leading them to pause the protocol and to uncertainty around the collateralization of agEUR. **agEUR is not listed as collateral on Aave V3 Polygon and is only borrowable, with utilization currently at nearly 100%**. Still, we think it is reasonable to disable further asset borrowing as an immediate and temporary measure until the backing is restored 1:1. We continue to follow the situation closely as it develops and will update recommendations and actions accordingly. ## **Specification** Ticker: agEUR Contract Address: 0xE0B52e49357Fd4DAf2c15e02058DCE6BC0057db4 ## **Copyright** Copyright and related rights waived via CC0 ---
**Author:** ![Pauljlei](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/pauljlei/32/3488_2.png) [@Pauljlei](https://governance.aave.com/u/Pauljlei)\ **Post date:** [March 13, 2023, 8:52pm UTC](https://governance.aave.com/t/arfc-disable-borrow-of-ageur-on-aave-v3-polygon/12275/2 "2023-03-13T20:52:02Z")
Gauntlet supports pausing borrowing of agEUR. ---
**Author:** ![WintermuteGovernance](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/wintermutegovernance/32/9926_2.png) [@WintermuteGovernance](https://governance.aave.com/u/WintermuteGovernance)\ **Post date:** [March 13, 2023, 11:15pm UTC](https://governance.aave.com/t/arfc-disable-borrow-of-ageur-on-aave-v3-polygon/12275/3 "2023-03-13T23:15:23Z")
We are in support of this. Given there are currently 2 snapshots to list AgEUR to V3 Arbitrum/Optimism, I think it makes sense to hold off on the on-chain votes (which we will not support) until there is further clarity surrounding AgEUR’s collateralization and the unpausing of their protocol. Disclaimer: Wintermute is an investor in Angle ---
**Author:** ![fig](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/fig/32/7063_2.png) [@fig](https://governance.aave.com/u/fig)\ **Post date:** [March 14, 2023, 1:54am UTC](https://governance.aave.com/t/arfc-disable-borrow-of-ageur-on-aave-v3-polygon/12275/4 "2023-03-14T01:54:16Z")
We have voted NAY on the current Snapshots on-boarding agEUR to reflect this recommendation. ---
**Author:** ![mango](https://avatars.discourse-cdn.com/v4/letter/m/ed655f/32.png) [@mango](https://governance.aave.com/u/mango)\ **Post date:** [March 14, 2023, 3:19am UTC](https://governance.aave.com/t/arfc-disable-borrow-of-ageur-on-aave-v3-polygon/12275/5 "2023-03-14T03:19:52Z")
What would happen in the case where the 200m are definitely lost by Euler along with the 17m of Angle ? ---
**Author:** ![ChaosLabs](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/chaoslabs/32/6850_2.png) [@ChaosLabs](https://governance.aave.com/u/ChaosLabs)\ **Post date:** [March 14, 2023, 5:23pm UTC](https://governance.aave.com/t/arfc-disable-borrow-of-ageur-on-aave-v3-polygon/12275/6 "2023-03-14T17:23:27Z")
We have published [AIP-179](https://app.aave.com/governance/proposal/?proposalId=179) for community members to vote on, starting in 24h. Thank you in advance for your participation in the vote. > **[Aave - Open Source Liquidity Protocol](https://app.aave.com/governance/proposal/?proposalId=179)** > > Aave is an Open Source Protocol to create Non-Custodial Liquidity Markets to earn interest on supplying and borrowing assets with a variable or stable interest rate. The protocol is designed for easy integration into your products and services.