Community Sentiment Poll : Asset Rescue Mission

Several members of the community have sent LEND to the LEND contract address and AAVE to the AAVE contract address, resulting in permanent loss of funds.

Assets concerned :

Each of these transfers are a personal tragedy, and community discussions current consensus aims towards a “rescue” mission to allow these users to claim back their assets.

Feel free to consult the Main discussion thread on the topic.

On the technical and operating side, a viable solution would be to add a retrieveStuckTokens() in the AAVE token contract, this method will be general-purpose and allow the users to retrieve any standard ERC-20 sent to the AAVE token contract address allowing to support the people that have made mistakes in the past and also support future issues.

The LEND token contract is immutable and can’t be modified in any way, a fitting solution would be to allocate a corresponding amount of AAVE from the lendToAaveMigrator contract to the users. This action will NOT result in AAVE token increased total supply as the corresponding amount of LEND will never be migrated to AAVE.

Implementing this would require a dedication of time and ressources from the Aave genesis team and a favorable AIP outcome to implement the changes to the token contracts.

Feel free to express your sentiment as community members in this Poll, a favorable outcome of this poll will result in the development of a solution and submission to the AAVE holders of a formal AIP proposal.

Support of Token Rescue Mission Poll :
  • Yes, Both
  • Yes, Only AAVE
  • Yes, Only LEND
  • No

0 voters

7 Likes

We need to do the right thing!

#Aavengers assemble!

10 Likes

Thanks guys, the community is awesome!

2 Likes

Support for both from me!

I think it’d be silly to not support the 100+ people in this situation since they’re part of the Aave ecosystem.

5 Likes

Yeah, i think you can save my friend funds ! :innocent:

4 Likes

In favor.

How about a 1-5% penalty to fund these ressources. And to incentivise to be extra-careful.

6 Likes

Hey Sunshine, as one of those who have lost the tokens in this manner i totally support paying a penalty in team’s favor and believe it is fair!

6 Likes

I do want to point out that it’s important to make it so that only the sender can withdraw their funds, otherwise, all accidentally sent funds will likely be withdrawn by a frontrunning bot. I’m not sure how this would work technically, but I’m sure it’s possible.

2 Likes

Why is it not possible to:

  1. Make sending tokens to the contract address impossible - failed transaction

or

  1. Activate a pop-up warning message prior to sending

or

  1. Disable the contract address from being entered as the recipient
1 Like

For 1., I believe it’s either a “too late” or technical reason, but for 2 and 3 this is dependent on wallet providers. Wallet creators have the choice to censor users from sending tokens directly to well known contract addresses such as this one, but it’s something that has not been implemented frequently and isn’t something Aave has a whole lot of control over.

2 Likes

I do not understand all the technical details, but if the community decides to save the lost tokens, then this should be done properly to not cause any security vulnerabilities

Implementing this would require a dedication of time and ressources from the Aave genesis team and a favorable AIP outcome to implement the changes to the token contracts.

“Yes, Both”, but

How about a 1-5% penalty to fund these ressources. And to incentivise to be extra-careful.

Hey Sunshine, as one of those who have lost the tokens in this manner i totally support paying a penalty in team’s favor and believe it is fair!

This money should has been lost “forever”.

I think the penalty must be higher than proposed by @sunshine as they have to dedicate time for this (don’t have a number, like max slash possible ?).
I love being a “goodboy” (or being part of a good community) but this must be an example that mistakes has a cost.

The fee/penalty should go to AAVE (or reward?, because as I said, this money was dead)

Both proposals seem perfect to me.
Whatever is simpler should be done.
I understand that AAVE is today the future and replacement to the LEND token, therefore the equivalent to the migration of 100 LEND = 1 AAVE should be credited.
It seems to me the most correct and simplest.

This is not a game. People should be able to have the options to rescue misplaced tokens. We are talking about people losing tens of thousands of dollars. They trusted this platform and chose it over many other legitimate investment opportunities. The aave company putting a solution together to rescue the tokens back for its loyal supporters will result in a widespread of positive information surrounding the entire aave ecosystem… Thus resulting in a spark of mass adoption.

Needless to say, the opposite will occur if this clear problem and issue is ignored!

Currently right now i would like to buy more tokens in the meantime while this issue gets settled but why should i when i dont even know the status of my trapped tokens or if i will ever recover them or the money i put in!

The decision is obvious to me and thousands of others. Please guys (aave company) do the right thing!!!

1 Like

I also unfortunately sent my LEND tokens from my Binance account to the LEND contract address losing access to them. Obivously my own fault but I would really appreciate if the community could help and rescue these funds.

2 Likes

A future AIP could be generated to redeem the tokens with 60 votes and 70% acceptance of both proposals, right?

1 Like

I agree with this totally. It was silly for this to be allowed in the first place

Why still no news regarding this? I also would like to recover my lends or aaves… i didn’t even notice they swapped because i was holding, so i sent then the lends to aave address… and baaam lost

1 Like

For the time table, I believe during the next month or two would be ideal to execute this operation.

2 Likes

Hello AAVE team,

I don’t really know where to post this specific issue but it looks like it could be added here.
I just made a dumb mistake that is costing me a lot at the moment.

I failed to follow the established process to stake AAVE tokens and sent 5.47 AAVE tokens straight to the address mentioned as “Aave: Staked Aave” (see screenshots). My address is the one you can find on the screenshots: 0xF93917B5Cc68A03F5C63F7D45023B76D541856FC.

Is there any way to save / get back these tokens ? Can an authorisation transaction made later than this first transaction add them to the amount of staked tokens linked to my account for example ? Or would it be possible to send them back ?

I brought this issue to the attention of your support and was advised to bring my case here. Hoping something can be done about it in the future.

Thanks in advance for your time and help,
DV7

1 Like