Hello,
New to the site so understand this may be a common issue. I took out around 20 positions on Aave V1 a few years ago (deposits and loans) and they boomed soon after. When Aave V2 came out Eth fees had gone stupid and I was unable to migrate. It was going to cost over $1000. So now I am hearing about V3 I am concerned about what to do. Are my funds at risk if I leave them in V1 of the community closing that protocol? Will there be bridge between V1 to V3? And is it likely with Eth 2.0 the fees will become more reasonable for migrating? Any assistance appreciated.
Hi,
first of all your funds aren’t at risk. Aave V1 is a smart contract. Its immutable, it cannot just be closed. Only the website (frontend) can be shut down, but you will always be able to access the contracts via etherscan.
Second, i dont remember there will be a bridge between v1 and v3. Most likely there was something for v2 to v3. I would recommend to wait for low gas ( we had very low gas the last few weeks) and then migrate directly to v3 and maybe in this case even to a L2 market like polygon, arbitrum etc. This will save you a lot fees.