Aave USDC depositors couldn't withdraw for 4 days.
They thought they held callable claims. They actually became term lenders.
New Crypto Yield Curve on the rsETH contagion – and the risk premium DeFi lenders aren't getting paid ↓
We spent a lot of time last year talking about curators – what the role actually is, how it evolves, and why it needs to be deconstructed.
Risk evaluation. Capital allocation. Real-time monitoring. Three distinct functions, one entity.
Who's unbundling this?
AMM lending pools can be a capital trapdoor in volatile conditions ⚠️
Relying on constantly high utilization rates concentrates exit pressure onto ~10–20% of capital.
Very Liquid Vaults act like a ‘vault of vaults’ to protect against this.
They enable free-flowing credit by allocating unmatched deposits only to strategies with instantly accessible liquidity, ensuring capital is always available for withdrawals or fixed-rate matches.