Stani Kulechov, founder and CEO of Aave, comes onto the show to discuss the lending protocol and second-biggest DeFi project by total value locked. Here are some of the highlights:  <ul> <li style="font-weight: 400;" aria-level="1">How Stani’s background studying law and his passion for fintech led him to the world of smart contracts (1:53)</li> <li style="font-weight: 400;" aria-level="1">Why he decided to transition ETHLend to Aave, and how that eliminated the “meme” narrative (5:55)</li> <li style="font-weight: 400;" aria-level="1">How Stani would explain Aave to a five-year-old, or your normie friend (9:04)</li> <li style="font-weight: 400;" aria-level="1">What new features were released in Aave v2 (15:54)</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2">reducing overall gas costs</li> <li style="font-weight: 400;" aria-level="2">aTokens</li> <li style="font-weight: 400;" aria-level="2">swapping collateral</li> <li style="font-weight: 400;" aria-level="2">debt tokens</li> </ul> </li> <li style="font-weight: 400;" aria-level="1">What Aavenomics is and how the “safety module” attempts to keep the protocol secure (20:39)</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2">How AAVE works as a governance token</li> <li style="font-weight: 400;" aria-level="2">Active versus passive risk in governance staking</li> </ul> </li> <li style="font-weight: 400;" aria-level="1">How Aave is transitioning from a centralized to a decentralized protocol (25:01)</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2">what he's finding difficult about this process</li> <li style="font-weight: 400;" aria-level="2">issues with voting and an over-reliance on the Aave team</li> <li style="font-weight: 400;" aria-level="2">delegating voting power to what he calls “protocol politicians” and whether this is good or bad for DeFi</li> </ul> </li> <li style="font-weight: 400;" aria-level="1">Who is using Aave and how they are using it? (37:27)</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2">what OpenLaw is and how OpenLaw contracts work</li> <li style="font-weight: 400;" aria-level="2">how credit delegation, or unsecured loans enforced by law, differ in v2 vs V1</li> <li style="font-weight: 400;" aria-level="2">how people could use lending protocols to build credit</li> </ul> </li> <li style="font-weight: 400;" aria-level="1">What Aave plans to do with the E-Money (EMI) license it obtained in the UK (50:51)</li> <li style="font-weight: 400;" aria-level="1">Since Aave was a pioneer in flash loans, which are responsible for the majority of DeFi attacks, whether Stani would do anything differently (53:12)</li> <li style="font-weight: 400;" aria-level="1">Aave’s partnership with tokenized real estate project RealT and how Aave manages it given that, in the US, RealT tokens are securities and can only be sold to accredited investors (58:42)</li> <li style="font-weight: 400;" aria-level="1">How Aave has been thinking about scaling given the high fees on Ethereum (1:03:57)</li> <li style="font-weight: 400;" aria-level="1">Why building a moat in DeFi is impossible (1:07:16)</li> <li style="font-weight: 400;" aria-level="1">What is next for Aave (1:11:40)</li> </ul>   Thank you to our sponsors!  <a href="http://crypto.com/">Crypto.com</a>: <a href= "https://crypto.com/">https://crypto.com/</a>   Episode links:  Stani Kulechov: <a href= "https://twitter.com/StaniKulechov">https://twitter.com/StaniKulechov</a> Aave: <a href= "https://aave.com/">https://aave.com</a> Aave stats: <a href= "https://aavewatch.com/">https://aavewatch.com</a>   Protocols mentioned <ul> <li style="font-weight: 400;" aria-level="1">ETHLend: <a href= "https://www.prnewswire.com/news-releases/ethlend-announces-launch-of-new-parent-company-aave-300713825.html"> https://www.prnewswire.com/news-releases/ethlend-announces-launch-of-new-parent-company-aave-300713825.html</a></li> <li style="font-weight: 400;" aria-level="1">Aavegotchi: <a href= "https://www.coindesk.com/defi-game-aavegotchi-preps-for-jan-4-mainnet-launch-with-nft-auctions"> https://www.coindesk.com/defi-game-aavegotchi-preps-for-jan-4-mainnet-launch-with-nft-auctions</a></li> <li style="font-weight: 400;" aria-level="1">RealT: <a href= "https://medium.com/aave/realt-market-coming-to-the-aave-protocol-da4499a1e965"> https://medium.com/aave/realt-market-coming-to-the-aave-protocol-da4499a1e965</a></li> <li style="font-weight: 400;" aria-level="1">Yearn: <a href= "https://yearn.finance/">https://yearn.finance/</a></li> <li style="font-weight: 400;" aria-level="1">Uniswap: <a href= "https://uniswap.org/">https://uniswap.org/</a></li> <li style="font-weight: 400;" aria-level="1">Sushiswap: <a href= "https://sushiswap.fi/">https://sushiswap.fi/</a></li> <li style="font-weight: 400;" aria-level="1">Kyber: <a href= "http://kyber.network/">http://kyber.network/</a></li> <li style="font-weight: 400;" aria-level="1">Balancer: <a href= "https://balancer.finance/">https://balancer.finance/</a></li> <li style="font-weight: 400;" aria-level="1">$LINK: <a href= "https://chain.link/">https://chain.link/</a></li> </ul> Aavenomics <ul> <li style="font-weight: 400;" aria-level="1">Aave’s documentation: <a href= "https://docs.aave.com/aavenomics/">https://docs.aave.com/aavenomics/</a></li> <li style="font-weight: 400;" aria-level="1">Safety Module: <a href= "https://docs.aave.com/aavenomics/safety-module">https://docs.aave.com/aavenomics/safety-module</a></li> <li style="font-weight: 400;" aria-level="1">Summary: <a href= "https://aave.com/aavenomics/">https://aave.com/aavenomics/</a></li> <li style="font-weight: 400;" aria-level="1">More background: <a href= "https://defirate.com/aavenomics-upgrade/">https://defirate.com/aavenomics-upgrade/</a></li> </ul> Decentralization concepts <ul> <li style="font-weight: 400;" aria-level="1">Handing off admin keys: <a href= "https://decrypt.co/46544/aave-officially-hands-over-governance-keys-to-defi-community"> https://decrypt.co/46544/aave-officially-hands-over-governance-keys-to-defi-community</a> + <a href= "https://medium.com/aave/aave-admin-key-handover-3e09e603d348"> https://medium.com/aave/aave-admin-key-handover-3e09e603d348</a></li> <li style="font-weight: 400;" aria-level="1">OpenLaw: <a href= "https://www.openlaw.io/">https://www.openlaw.io/</a></li> <li style="font-weight: 400;" aria-level="1">Protocol Governance: <a href= "https://www.theblockcrypto.com/linked/73336/defi-lending-aave-token"> https://www.theblockcrypto.com/linked/73336/defi-lending-aave-token</a> + <a href= "https://docs.aave.com/developers/protocol-governance/governance"> https://docs.aave.com/developers/protocol-governance/governance</a></li> </ul> Other topics <ul> <li style="font-weight: 400;" aria-level="1">Electronic Money Licence: <a href= "https://www.theblockcrypto.com/post/75845/aave-uk-fca-emi-license-defi"> https://www.theblockcrypto.com/post/75845/aave-uk-fca-emi-license-defi</a></li> <li style="font-weight: 400;" aria-level="1">Unsecured Loans: <a href= "https://www.theblockcrypto.com/post/70678/aave-launches-new-service-for-unsecured-peer-to-peer-loans-on-ethereum"> https://www.theblockcrypto.com/post/70678/aave-launches-new-service-for-unsecured-peer-to-peer-loans-on-ethereum</a></li> <li style="font-weight: 400;" aria-level="1">Flash Loans: <a href= "https://www.theblockcrypto.com/genesis/93740/flash-loans-as-a-capital-boost-tool"> https://www.theblockcrypto.com/genesis/93740/flash-loans-as-a-capital-boost-tool</a></li> </ul> Aave Version 2: <a href= "https://medium.com/aave/the-aave-protocol-v2-f06f299cee04"> https://medium.com/aave/the-aave-protocol-v2-f06f299cee04</a> + <a href= "https://github.com/aave/protocol-v2/blob/master/aave-v2-whitepaper.pdf"> https://github.com/aave/protocol-v2/blob/master/aave-v2-whitepaper.pdf</a>

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Stani Kulechov on Why Aave Is So Successful - Ep.212

Laura Shin