BlockBeats News, March 13th, user @kingfxyo swapped approximately $50.43 million worth of aEthUSDT for AAVE through CoWSwap, experiencing a slippage of over 99%, ultimately receiving about 327 aEthAAVE worth around $36,000. Community analysis indicates that this swap likely utilized AAVE’s UI for the collateral swap feature, converting aEthUSDT to aEthAAVE, representing the deposit of USDT and AAVE into the AAVE protocol, with the main issue attributed to the poor routing strategies employed by most aggregators, as CoWSwap seemingly did not reflect accurate pricing for aEthAAVE.
Aave founder Stani.eth mentioned that due to the unusually large order size, the interface issued an extreme slippage warning to the user, prompting a checkbox confirmation. After acknowledging the warning on a mobile device, the user proceeded with the transaction. While the CoWSwap router functioned as expected, following industry-standard procedures, the outcome was evidently suboptimal. Stani.eth stated that Aave plans to reach out to the user and refund the approximately $600,000 fee charged in this transaction.
