Aave创始人Stani批评英国稳定币监管政策：30%无息准备金将扼杀本土发行，英国恐难与美国竞争
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Aave founder Stani criticizes UK stablecoin regulatory policies: 30% interest-free reserves will stifle domestic issuance, making it difficult for the UK to compete with the US.
PANews reported on June 22 that Aave founder Stani published an article on the X platform stating that while the Bank of England has removed the £20,000 cap on individual stablecoin holdings, it still requires issuers to deposit 30% of their reserves into a non-interest-bearing account with the central bank. Stani pointed out that this severely weakens the economics of stablecoin issuance, essentially taxing issuers and potentially forcing companies to relocate to offshore markets. Furthermore, the UK's £40 billion limit on stablecoin issuance will also stifle growth. He believes that on-chain ledgers are not fundamentally different from existing payment institution databases, and regulators should maintain technological neutrality; otherwise, the UK may struggle to compete with the US.
Aave founder Stani: Central banks are willing to accept a 30% deposit requirement if they pay market interest rates for stablecoin reserves.
According to Mars Finance, Aave founder Stani stated that he would accept the reserve requirement if the Bank of England (BoE) was willing to pay market interest rates for 30% of the underlying assets of systemically stablecoins that are required to be held at the central bank. Previously, the BoE proposed that a portion of the reserves of systemically stablecoins be held at the central bank to reduce risk; Stani's statement focuses on whether passive deposit rates can cover the opportunity cost of this "locked-up" asset.
Aave founder Stani: DeFi lending protocol valuations should not primarily rely on TVL (Total Value Limit).
According to Mars Finance, Aave founder and CEO Stani Kulechov tweeted that DeFi lending protocol valuations should not primarily rely on TVL (Total Value Link), as it measures net collateral rather than lending activity. Comparing data from the end of 2025, Aave's supply was approximately $52 billion, active loans were approximately $22 billion, borrowing interest income exceeded $700 million, and DAO retention was approximately $150 million; SoFi deposits were approximately $37.5 billion, loan books were approximately $38 billion, loan revenue was approximately $1.8 billion, and net profit was approximately $481 million. Stani stated that in traditional finance, deposits are liabilities or costs of capital, while loans are interest-bearing assets, and lenders typically value them based on loan books, interest income, interest spreads, and asset growth; however, the DeFi market primarily focuses on TVL and DAO retention fees. He believes that Aave is closer to a lending business of over $700 million than a $150 million revenue agreement under the traditional financial accounting framework; TVL is not the revenue basis of the lending agreement, but the loan ledger and interest flow are the core.
Aave updates rsETH technical recovery plan: WETH LTV has recovered to pre-event levels.
PANews reported on May 18th that Aave founder Stani Kulechov announced on the X platform that the next step of the rsETH technical recovery plan has been completed, and the WETH loan-to-value (LTV) ratio for all affected networks has returned to pre-event levels. Users can now borrow and lend on Aave again using WETH as collateral, including through collateral and debt swaps. According to the Aave announcement, this recovery involves the deployment of networks including Aave V3 Ethereum Core, Ethereum Prime, Arbitrum, Base, Mantle, and Linea.
Aave co-founder: Aave DAO Swap revenue reaches $1 million for the first time; more features will be launched to expand revenue streams.
According to Foresight News , Aave co-founder Stani Kulechov announced that Aave DAO's swap revenue has reached $1 million for the first time since the launch of the "Aave Will Win" program. He stated that this revenue stream introduces a transactional revenue source to the Aave protocol, in addition to its existing assets under management (AUM) based fees. Aave will also launch more features in the Aave Pro product, including leverage tools, a transaction builder, and support for Aave V4, to further expand its revenue channels.
The Aave Chan Initiative has officially ceased operations; Marc Zeller announces new project.
PANews reported on July 1st that Aave Chan Initiative (ACI) founder Marc Zeller disclosed that Aave DAO delegation and service provider ACI officially ceased operations today, marking the end of this community-driven governance platform after more than three years of operation. According to Zeller, ACI was founded during a DeFi downturn, when Aave's TVL had shrunk to a quarter of its peak, and the protocol was losing approximately $35 million annually. During its tenure, ACI helped Aave turn around the protocol's performance, generating $150 million in annual revenue, driving a nine-fold increase in AAVE's price, and establishing a mature DAO governance and service network. Marc stated that the end of ACI is not the end of the journey, and new project plans will be announced soon.