Aave Using Forta for Security and Operational Monitoring

Article by Forta Network Oct. 6, 2022

Forta is excited to announce that Aave, one of the largest and most trusted DeFi protocols, is using Forta to monitor critical protocol operations.

Aave is a decentralized non-custodial liquidity protocol where users can participate as suppliers or borrowers. Suppliers provide liquidity to the market to earn interest on their assets, while borrowers are able to borrow against supplied assets.

Since the protocol’s debut in 2020, the Aave community has prioritized security and operational excellence. Over the last month, the Bored Ghost Development team has implemented a suite of Forta bots monitoring a variety of critical on-chain infrastructure. The Aave DAO was also keen to enable the community to have access to real-time security and health information, and encourage stakeholders to actively participate in the monitoring function. 

The Aave Grants Team worked with Arbitrary Execution, a US-based Web3 security and audit firm, to identify monitoring requirements. The bot development was completed by Arbitrary Execution and funded with a grant from the Aave Grants Program. More details about the grant can be found here

“We are excited to support Forta and help bring a suite of monitoring agents on the Forta Network for the Aave Protocol. Forta’s community consists of some of the top security researchers in the space who have experience in finding exploitable vulnerabilities. Anyone can subscribe to the bots and monitor key changes to the protocol in real time which will help increase awareness and participation across the ecosystem.” said Bill Zerox, Aave Grants DAO representative. 

The initial scope of work included but was not limited to the following:

– Admin Events Monitor: detecting administrative events

– Stale Oracle Pricing: monitors price oracle data to see if it has not been updated in over 24 hours

– Fallback Oracle: monitors the price difference between the price oracle and fallback price oracle

– Governance Monitor: detecting proposal creation, execution, queue and cancellation; strategy and ownership changes, and executor activity. 

– Treasury Fees: monitors for FlashLoan events and alerts when the premium (aka the fees) collected from the FlashLoan exceeds certain thresholds. 

You can also find and subscribe to Aave Protocol alerts and more using the Forta App.

You can learn more about the Aave Protocol by visiting their website.


About Forta

Forta is the first decentralized network delivering real-time intelligence on the security and health of Web3 core infrastructure and dApps. Protocols, DAOs, investors and individuals can use Forta to receive real time insights on security, financial, operational and governance related events on L1s, L2s and sidechains. 

Learn more about Forta by visiting forta.org or reading the documentation at docs.forta.network

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