a $30b lending market, the top market in the future of global finance, has ground to a halt for two days, scaring away billions in deposits and creating massive risk for further contagion... all because collateral worth less than 5% of that market might take at most a 20% haircut aave screwed up royally here. not just in enabling this crisis but in managing it kelp and LZ are ultimately provincial. this should have been a fire at a branch office, not a major earthquake downtown clearly it's too late to reassure aave depositors writ large. the capital flight from aave will be extreme and probably irreversible in terms of market share i'm not a lending expert, but afaict the scariest and most optically terrible thing right now is 100% utilization in stables. if nothing else, raise those borrow rates eth and defi will emerge from this stronger than ever, and we have a clear path for it: use the known good tech, use the known prudent scientific gov, and no more "Just Use" sacred cows