Aave Considers Withdrawal from Six Low-Profitability Blockchains

The decentralized lending protocol Aave is considering withdrawing from six blockchains, including Sonic, Scroll, zkSync, Metis, Soniom, and Aptos. The revenue from these chains is less than $5,000 each, making it difficult to cover operational costs. Aave is discussing governance proposals that include the termination of services on these chains, which could affect approximately $98 million in deposits. The total deposits from the six chains amount to $13 million, with Soniom experiencing a 95% decline and Aptos a 94% decline over the past six months. Aave's overall revenue is also on a downward trend, decreasing from $198 million in Q1 to $156 million in Q2, a drop of about 20%. Even if the proposal passes, existing positions will not be forcibly closed, but new deposits and borrowings will be halted, and 99% of the interest will be sent to the Aave treasury. This is interpreted as a measure for cost reduction and risk mitigation.