I’m looking to supply a large sum of capital to lend on the platform. However I’m concerned with potential security risks from smart contract failures. Although AAVE has never had any security breach that I’m aware of, I’m wondering If my funds were stolen- (and not from an issue from my side but with the protocol), will I be compensated? Would it also help splitting up the money on different chains on AAVE?
Assuming it would be another vector to attack bya bad actor. Thanks for any answers!
Hi as you answered yourself, no large incident happened, Aave SM are extremely safe and very well audited by several independent parties, making sure a user and his funds are protected. Then also just look at the market dominance of Aave on every chain. There is a reason it’s the biggest lending protocol trusted by individual user, bigger institutions or other protocols building on top of Aave.
If something would happen there is the safety module (right now, will change with Umbrella) or simply treasury funds.
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When does Umbrella get voted on? Yes AAVE has a strong track record there’s no question about that but anything can happen in this space.