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AAVE's liquidity pool has finally gathered enough funds, and the price has barely stopped falling on the chart.
Seeing the K-line stabilize, many might breathe a sigh of relief, thinking the crisis is over.
But I advise you, don’t celebrate too early.
Superficial stabilization cannot hide the underlying fragility.
Look at the data, hundreds of billions of dollars are quietly flowing out, and the market’s trust base has already shaken.
Relying on “begging” and donations from the entire network to sustain a top-tier project is simply a tragedy of DeFi.
This approach is extremely fragile because it hasn't truly repaired its risk resistance; it’s just being artificially kept alive by a group of big players’ “kindness.”
The scariest thing isn’t this crisis, but “the next one.”
This method doesn’t genuinely clear risks; it only delays them.
If another attack of similar magnitude happens, the current bad debts will directly pile onto the next.
The snowball gets bigger and bigger, with interest and bad debts expanding like a rolling snowball, and eventually, it will completely crush the entire system.
Ultimately, this is absurd.
A leading project in its field, due to a vulnerability of over two hundred million dollars, has to beg for donations like a beggar.
So I want to ask: what’s the point of the “risk reserve fund” that’s often hyped up?
And what are those so-called “pledgers” who claim to provide security guarantees and charge high fees supposed to do?
When something goes wrong, it all becomes a decoration—aren’t they just running naked?
Through this incident, looking beneath the surface of the entire industry, the truth is harsh:
Many projects on the market currently lack the ability to compensate for stolen funds.
Most so-called security mechanisms are just paper tigers in a bull market.
Today, large funds might still rescue AAVE out of a selfish desire to maintain the ecosystem, but what about those smaller projects tomorrow?
When faced with a black swan of this magnitude, they don’t even qualify for begging; they’re simply taken out in one wave, wiped