陈剑Jason
陈剑Jason|12月 26, 2025 02:04
The recent incident of AAVE tearing apart and splitting proves that MakerDAO's decision three years ago was very visionary. At that time, they announced a roadmap to spin off a large number of their businesses and establish a sub DAO, not just to delegate governance power, but to completely separate their finances. Many people do not understand this as a suicidal act of self disintegration, but now it has completely avoided the consequences of AAVE's unclear rights and interests and conflicts of interest. The AAVE next door is causing a stir, but MakerDAO and Spark are enjoying their little days. The stablecoin USDS+DAI issuance is about to exceed $1 billion, ranking third only after USDT and USDC, and has far surpassed Ethena's USDe, which ranks fourth. Spark's monthly protocol revenue has more than doubled year-on-year, and its lending scale has also ranked second only to AAVE. The biggest challenge for Old Defi to maintain long-term competitiveness is to overcome human nature. The founding team has already achieved financial freedom, the agreement remains unchanged, and the energy source continues to generate revenue. Naturally, there is no motivation for the Buddha faction, but the internal team and community are not satisfied with the status quo. Therefore, subDAO, which separates people who want to work hard, is a good model. Rather than saying that MakerDAO incubated Spark, Spark is actually helping MakerDAO survive.
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