From the results, Spark @sparkdotfi is almost the biggest winner in this Aave event:

🔸Aave TVL dropped from over 40 billion dollars to over 28 billion dollars, with a capital outflow of 15 billion dollars in just a few days;

🔸During the same period, Spark's TVL surged from over 7 billion dollars to 9.426 billion dollars, and net deposits increased to 5.258 billion dollars, with fees rising from 82,600 dollars to 146,400 dollars.

🔸Meanwhile, Upbit listed $SPK, and the coin price doubled in 48 hours.

This is a typical refugee trade, and Spark caught it solidly!

Interestingly, the turning point was actually laid out back on January 29, almost serving as the fork point of two governance logics.

On the same day, Aave and Spark made completely opposite choices regarding rsETH:

1⃣ Aave chose to launch rsETH E-Mode, raising LTV to 93%, with a clear goal: increase the utilization rate of WETH to attract more funds back.

2⃣ Spark, on the other hand, believed that rsETH had a low utilization rate, high user concentration, and a single wallet dominance, and chose to stop new supply of rsETH and withdraw from the market.

Three months later, from actively giving up a piece of fat meat to now being the best safe haven for risk-averse funds, the market has re-understood Spark, began to recognize Spark, and with the influx of traffic, TVL, fees, whale migration, and token re-evaluation are all natural extensions of this result.

I think this can directly confirm a fact:

Risk control ability is also a form of growth ability.

And the core of all this is fully reflected in Sam @hexonaut's risk control philosophy!

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