AAVE 2030 and the Complexity Moat

AAVE 2030 is an all-encompassing proposal from AAVE Labs that includes a full protocol rewrite, a new network, plans for building AAVE on alt-L1s, and a complete brand refresh. The author argues that complexity may be a feature rather than a bug in lending, and that AAVE's moat is tied to the interplay of capital efficiency, risk controls and liquidity network effects. The proposal's cross-chain liquidity design, a dedicated chain using Validium, and off-chain automated oracles built with Chainlink after the loss of risk manager Gauntlet are highlighted as notable ideas. The author also notes that the proposed $15M cash grant requires a large technical scope to justify it, which raises incentive-alignment concerns.