The real conspiracy of @AaveAave is that you would never need to dispose your assets, ever. πŸ‘»
Value can be tokenized

- Mortgages
- Flying cars (I need one)
- Your long distance travel rocket
- Playstation 6
- Aavegotchi
Value can also be swapped

- Swap collateral
- Swap debt
- Swap credit delegations πŸ‘€πŸ‘€
Everyone has wealth. In analogic world it's not in numbers, in tokezined world its numbers. Everyone has a personal balance. DeFi allows you to equity release your personal balance sheet without disposing the assets.
Bullish on Bitcoin, bullish on DeFi, bullish on personal wealth and personal happiness. πŸ“ˆ πŸ₯°

β€’ β€’ β€’

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More from @StaniKulechov

18 Nov
AIP2 practically bootstraps Aave Reserve. Additionally v2 includes Reserve Factor that collects fees for the Aave Protocol which can be used in the future to fund stakers, developers, community builders etc. Exciting πŸ€“
Coolest part about @AaveAave Governance is that each positive vote outcome ends up with on-chain code execution, here is the AIP2 code…
And of course the text of voted proposal is stored in IPFS and will be there as long as IPFS is ran…
Read 4 tweets
19 Sep
After successful community signalling on migration from $LEND to $AAVE. It's time to recap on Aavenomics. πŸ‘»πŸ‘‡πŸ½
Background work. It took over 6 months of full-time work for the @AaveAave team to architect and design a proposal for Aavenomics that would serve the protocol and the community. Special thanks to community members who participated in discussions at ❀️
Objective. Scaling DeFi is all about getting more people comfortable in holding their hard earned savings in DeFi where they are introduced to new opportunities. NOT about the high risk and yields.
Read 11 tweets
22 Jul
Yield farming is bad, really bad bad thing. 😁 Incentives are good, really good good thing.

Liquidity black holes are really really bad bad things. @aavegotchi is really really good good thing.

And here is why:
Preamble: Incentives rule the world whether they are economical, social or political. We're bound to incentives whether we like it or not. The devil of incentives lies in the details.

Now the important stuff:
Yield farming = liquidity provider is paid to risk their funds.

πŸ‘†This is where things are going wrong in DeFi

When you are incentivised enough you will take additional risk whether it's your risk appetite or not. 😿
Read 9 tweets
7 Jul
@AaveAave is starting native Credit Delegation (CD). Aave depositors can delegate their credit lines. For example, Karen deposits an asset such as USDT to @AaveAave and delegates her credit line to Chad, who draws funds such as ETH from Aave Protocol.
Karen and Chad conclude an agreement between each other on the terms of the loan such as repayment, interest rate and covenants. @OpenLawOfficial is used to sign the agreement, which secures the enforceability of the loan similarly as one would use DocuSign for an agreement.
After the agreement is in place, Karen creates the CD Vault smart contract, which allows Karen to set the credit line and currency according to the agreement. Chad can draw the credit via borrow() function and repay via repay(). Open credit line brings flexibility to Chad.
Read 10 tweets

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