I’ve been going on about how Aave V4 completely changes the economics of the curator business for a while now, so if you’re running a curator business and aren’t seriously considering building your own credit franchise on V4, I genuinely don’t know what to tell you. The business opportunity here is absolutely wild, curators have spent years building relationships with capital allocators and developing their distribution, V4 gives them the opportunity to turn all of that into an actual credit franchise where they can earn fees for managing capital AND capture a share of the economics of the lending markets they operate. Which means curators can now originate borrowing demand, structure the markets that serve that demand and benefit from additional economics as that credit activity scales, which is a much more defensible and lucrative business than endlessly competing for deposits and squeezing out a few extra bps in vault/performance fees. I’ve said this before but I genuinely think some of the largest credit businesses in DeFi will end up being built on V4. Sentora recognised this early and I think a lot of curators are going to look back and wonder why they didn’t. The opportunity is staring them in the face.