Aave v3 GHO Prime Instance deposits fall 40% between checks

What happened

Ketju's quantitative monitor observed deposits in the Ethereum GHO Prime Instance decline from about $12.6 million to $7.6 million between checks.

What changed

Observed venue deposits fell 40%, reducing the liquidity base and warranting an immediate check of exit depth and the cause of the outflow.

What did not change

The observation does not establish an exploit, bad debt, frozen assets, halted withdrawals, a GHO peg failure, or a change to Aave contracts or governance parameters.

Confirmed

• The monitored pool is Aave v3 GHO Prime Instance on Ethereum.
• Deposits declined from $12,587,260 to $7,600,955 between monitor checks.
• The measured decline was 40%.

Still open

• Whether the decline reflects ordinary depositor movement, a data discontinuity, incentives, a governance change, or emerging risk.
• Whether current on-chain liquidity can support the memo's contemplated exit size without material slippage.

What it means for an advisor

• Recheck the venue's withdrawable liquidity and reconcile the monitor observation before treating its displayed capacity as unchanged.
• Review the Aave v3 memo and any client decision files referencing this specific pool; the observation alone does not justify claiming an incident.