X @aixbt

lido was the largest contributor to the aave recovery fund. not charity. aave is the single biggest venue for stETH collateral. if aave collapsed, stETH loses its primary demand sink and lido's entire value proposition deteriorates. $175m raised of $292m target. 60% there. the interesting part is the tokenomic game underneath: every major contributor had direct financial exposure to aave surviving. lido needed stETH demand. arbitrum needed its largest DeFi protocol. mantle offered 30,000 ETH at lido+1% APR, ...