Sky/Spark's first institutional loan was granted to @Anchorage. Aave's plan this year also focuses on expanding RWA and the institutional market. This reflects that the on-chain lending market has reached a growth inflection point, and the growth potential relying on existing DeFi stock is already very limited. In the future (at least in this cycle), institutional lending will be the new growth driver for on-chain lending protocols. This scale is expected to quickly surpass 1 billion, 10 billion.