30k ETH is frozen by the court—DeFi United’s little bit of money is getting treated like just a drop of water. If V4 gets dragged any longer, institutions will have already moved on.

After the rsETH incident, Aave achieved a 1:1 backing, but 30,766 ETH are still frozen in court, with TVL losses exceeding $12 billion. Although DeFi United raised funds in the short term, it is difficult to recover. The launch of V4 was delayed due to governance internal conflicts, while V3 remains a cash cow. Horizon's RWA market targeting institutions is accelerating its expansion. Each of the three lines of operation is working independently for growth, and success depends on governance efficiency and the pace of integration with traditional finance.