$AAVE is one of those protocols that consistently kept building. I've started my journey in #Crypto# in 2017 and I can honestly say that I admire @StaniKulechov for what he's been building. It's more than ten years now since his vision started, and only to be thinking of DeFi back in that period of time is insane, let alone building it through all the challenges. I believe that $AAVE is on the verge of becoming that DeFi Layer for finance, as we're about to face a big adoption curve in terms of growth. I'd courage everyone to watch the episode.

12 Points Dumbing Down the ETH Issuance Reduction Debate: A Strategic (and Realistic) Review 1. Wrong lever. If the goal is capping staking levels, crushing yield to near-zero is a blunt instrument. You're fixing centralization by accelerating it. A double-edged sword cuts both ways. 2. The inflation is already tame. Net of burns, ETH sits below 0.5% annual inflation. Compared to the 2% economists consider healthy, Ethereum's monetary policy is already conservative. The emergency isn't there. 3. You're defunding the ecosystem. Staking yields have quietly replaced EF grants as a funding engine for Ethereum development. Cutting them mid-cycle, while the EF is already pulling back, removes a pillar nobody has publicly accounted for. 4. LSTs aren't the enemy. Liquid staking tokens drive DeFi innovation, deepen onchain liquidity, and generate fee burn. The narrative that LST dominance is an existential risk ignores what LSTs actually produce for the network. 5. Security is insurance, not overhead. You don't cut insurance because the house hasn't burned down. A well-compensated, broadly distributed validator set is exactly what Ethereum's credibility as global settlement infrastructure requires. 6. Wrong conversation entirely. This debate obsesses over the bottom line. Ethereum's future is won by growing the top line: more apps, more users, more usage, more fee burn. Nail that, and this whole discussion becomes a footnote. 7. The Fed doesn't move 150bps in one meeting for a reason: it's foolish. Concurrently, jumping from .8% to 0.5% based on theoretical curves is a foolish move. Hypothetically, a step from 0.8% to 0.7% with a pre-committed trigger tied to the staking ratio is more sound monetary policy. 8. It won't dent Lido. Lido adapts faster than Ethereum's twice-yearly upgrade cycle. Every yield adjustment re-equilibrates at the same rate for all players. The dominant one wins that race every time. 9. The room is too small. Decisions of this magnitude are being driven by cryptography engineers in All Core Devs forums, deliberately insulated from the market practitioners, economists, and institutional voices who understand what these changes do in the real world. 10. Touch EIP-1559 before touching staking. If issuance needs adjusting, the fee and burn architecture has some room for innovation. The sacred staking yield should be the last lever pulled, not the first. 11. Worst possible timing. At ~$1,900 per ETH, compressing staking yield is asking validators to absorb pain while already underwater. At $6–8K (closer to ETH's intrinsic value), the same change might be a minor inconvenience against a backdrop of 20–30% annual appreciation. 12. Theory meets market: it loses. The unspoken risk: if the issuance cut lands while macro conditions deteriorate, rates stay high, sentiment turns risk-off, the institutional absorption bid collapses exactly when exit sell pressure peaks. The medium-term benefits evaporate. That scenario isn't modeled anywhere in this proposal. That's the real cost of inaction on intellectual honesty.

The real trend for crypto that nobody is properly understanding is tokenization of equities. Its like stablecoins being the killer app but all over again and lending platforms are the utility. Aave will power tokenized equities.