@Back to Day One: Aave is largest, most battle-tested lending protocol in DeFi

Aave's founder argues that the protocol, while the largest and most battle-tested lending protocol in DeFi, is not a moat and must evolve its structure and product layer to reach the scale of traditional lending. The post states that Aave has originated over $1 trillion in loans and holds around 30% of DeFi's total TVL, with DeFi's roughly $120 billion matching the August 2021 level. It also argues that DAOs should keep onchain rules and visible treasuries while founders lead execution, and says Aave V4 is a modular lending infrastructure designed for all use cases. The post notes that Avara's other projects were retired, Lens was acquired, and the Family wallet was sunsetted.