Alexandru Niculae
93 posts
Alexandru Niculae
@_aniculae
Smart Contract Eng @aave, prev @reya_xyz @cambridge_cl @google project zero
Romania Joined Aralık 2016
1.1K Following1K Followers
Earlier today, a user attempted to buy AAVE using $50M USDT through the Aave interface.
Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return.
The transaction could not be moved forward without the user explicitly accepting the risk through the confirmation checkbox.
The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal.
Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space.
We sympathize with the user and will try to make a contact with the user and we will return $600K in fees collected from the transaction.
The key takeaway is that while DeFi should remain open and permissionless, allowing users to perform transactions freely, there are additional guardrails the industry can build to better protect users. Our team will be investigating ways to improve these safeguards going forward.
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The Aave V4 security contest has come to an end. With a record number of participants, enormous thanks to everyone who took part, and we hope you enjoyed our work.
See you on mainnet.
SHERLOCK@sherlockdefi
We're proud to announce that the @aave V4 Audit Contest is now complete. Thank you to all of the 918 participating researchers for your hard work. Submitted issues are now in judging, with results to follow.
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Happy Christmas to all of you, and especially to the ghosts!
👻🎄🕎 🎁 ❄️
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To sum up, in Aave V4 it’s never profitable to split a liquidation into smaller pieces as long as this condition holds — and in practice, it’s very easy to keep it true.
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Aave Just Works: A thread on Dutch Auctions in Aave V4's new liquidation engine.
Stani.eth@StaniKulechov
Introducing Aave V4's new liquidation engine.
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One of the reasons we build Aave V4 in public. More eyes on the code and open contributions, all the way to the first commit.
P.M@p_misirov
learning about @aave V4. will literally go through every single commit one by one from the start to see how everything evolved. if you want to do the same: github.com/aave/aave-v4/c…
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Alexandru Niculae retweeted
Alexandru Niculae retweeted
Proud of the Aave Labs team for their work on Aave V4, our most ambitious release yet. After 18 months of design and development, a full architecture overhaul, and powerful new features, we’re now getting stellar feedback from leading security researchers.
Nothing less than excellence from the leadership of @The3D_ and the outstanding team @miguelmtzinf @imderl @CheyenneAtapour Yan @_aniculae @CanonicalJP.
Can't wait to publish the Aave V4 code.
Kurt Barry@Kurt_M_Barry
The award for cleanest pre-audit codebase I've ever seen (so far) goes to: Aave v4. Despite high complexity, there are almost no "simple" issues that one expects a few of in any codebase of this size. I suspect this is a combination of careful design, consistent application of best practices (e.g. explicit rounding, checked casts), and a detailed test suite that leverages fuzzing and invariants.
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Borrow stablecoins against real world assets, on @aave. Amazing work from the team!
DeFi is winning.
Emilio^@The3D_
10m TVL on the horizon market minutes after the launch. Aave meets RWAs, and we are just starting
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