Aave reopens the doors. Some collateral still cannot get a seat.

Aave said on 30 October that its V3 and V4 markets had been unfrozen following the Binance incident. Its update says Aave contracts were unaffected and positions remained collateralised. A separate precaution remains: nine named assets retain zero loan-to-value for new borrowing.

The official update, reproduced in publicly indexed copies of Aave’s X feed, lists USDT, USDC, USDT0, POL, WAVAX, sAVAX, XAUT, PAXG and OP at zero LTV. That prevents those assets from backing new borrows under the stated restriction. It is not a claim that their market prices are zero.

The earlier freeze stopped new supply and borrowing while leaving repayments, withdrawals and liquidations operating, according to LlamaRisk’s incident account. Reopening therefore changes access; it does not erase every temporary risk setting.

Before the staged reopening, LlamaRisk also published a recommendation to reduce large borrow and draw caps. It proposed using the greater of current and pre-incident borrowing, plus roughly 2%, to limit spare capacity an attacker could immediately use. The recommendation estimated removing about $3.7 billion of unused capacity on V3 and $130 million on V4.

That distinction matters when reading a recovery headline. Market availability, an asset’s collateral eligibility and the amount a market permits users to borrow are separate controls. This update concerns Aave’s response to an external incident, not an exploit of Aave’s contracts.