BlockX 👾

My take on Labs vs DAO debates: Aave worked because Labs shipped product and growth while the DAO handled risk and governance. Same mission, different roles. That alignment built the top DeFi neobank with speed, real products and institutional reach. That is why Aave thrived while “pure DAO” experiments flat-lined. After CoWSwap, token holders are asking the right question: where does revenue actually accrue today, and where will it accrue going forward. If the Holder Revenue Ratio does not rise, long-term holders will simply stop footing the bill for everyone else. The answer is not to nuke Labs, it is to align incentives. Lock in revenue-share, extend incentives, and set a clear path for brand and IP to sit in a neutral wrapper. Keep execution fast, keep governance sovereign. And on-chain is telling you none of this is doom. Whales are buying, smart money is rotating in, buybacks continue, TVL and GHO supply are at all-time highs. I think we will remember this whole saga as the catalyst for an even stronger Aave. Just use Aave?

My thoughts on the Kamino & JupiterLend debates: - You and the @jup_lend team started a smear campaign on Kamino last week after they blocked one of your products. This included hard accusations like “blocking users from withdrawing”, the kind of claims that go crazy on CT. - Yes, @kamino restricted the Refinance product. It is literally a vampire-attack tool by design, can you really blame them? The execution wasn’t great, but it’s fair play. - Kamino retaliated, found some dirt on JupLend and used it. Is the JupLend product bad? No, it’s extremely good. Are the JupLend team trying to trick users? No. But mistakes were made. Deleting tweets before owning up to it is what really put fire on the situation. - @kashdhanda handled it properly and it’s forgiven on my end. Hopefully this leads to better comms and less PR fluff. - Pushing a fresh narrative that Kamino somehow “doesn’t get liquidations” feels off. This can be mature space, let’s keep the discussion at that level. As @jessepollak would say: “We win together”

Thoughts on Base <> @solana bridge: - Why are we acting like this is new? @wormhole has supported this for 2+ years (now it’s just canonical) - Bridging SOL to Base to hold it there makes zero fundamental sense - “@base is for any chain”, what does that even mean??

CT of the week: - Infinex ICO at $300M FDV - Monad tokenomics + stablecoin meta - Solana civil war: JupiterLend vs Kamino - Babylon x Aave building native BTC-backed Spoke - USDS removed as collateral, Sky Aave Force is over What did I miss?

Is @ethena cooked? - Yield is down to 5.1% - TVL has halved since 10/10 - Converge is dead and eco builders are leaving (@Terminal_fi) Still, USDe is the most widely adopted yield bearing stablecoin Hard to call it “over”

Is it me or @monad rollout feels like @Plasma all over again?! But token’s holding up ok in this market. Let’s see how this one plays out.