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Aave founder Stani Kulechov stated that Aave V4 can be used to reconstruct the on-chain securities financing market. He mentioned that securities financing is one of the largest markets on Wall Street but receives relatively little attention from the outside. Securities collateralized loans have become a multi-trillion dollar business, with the U.S. repurchase market having an average daily exposure of about $12.6 trillion, secured financing reaching $1.3 trillion, wealth management securities collateralized loans exceeding $400 billion, and approximately $4.6 trillion in assets in the securities lending market being lent out, generating a record $15 billion in revenue by 2025.Aave V4, through a "liquidity hub + modular market" structure, allows for shared liquidity at the underlying level while setting up segmented markets with different risk parameters, asset ranges, and rules at the upper level. Aave V4 can support three core securities financing scenarios: securities collateralized loans, repurchase transactions, and securities lending. Tokenized securities can be used as collateral to borrow GHO or stablecoins; repurchase transactions can borrow stablecoins using tokenized securities as collateral and achieve atomic settlement; in securities lending, the tokenized securities themselves can become borrowable assets, with lending income flowing directly to asset holders.Stani indicated that Aave V4 could adopt a single shared liquidity hub or split multiple hubs by asset class and risk. The former has deeper liquidity, while the latter offers stronger risk isolation. He believes that the realistic path may start with unified liquidity and, as the types of collateral expand, gradually evolve into a multi-hub structure categorized by asset class and risk.

The founder of the decentralized lending protocol Aave, Stani, posted on the X platform stating that the "Spokes" mechanism in Aave V4 will become a key architecture for the protocol's expansion, enabling quick access to diverse lending and financial scenarios.

According to CoinDesk, in April this year, the cross-chain bridge KelpDAO based on LayerZero suffered an attack of $292 million, triggering a deposit run of up to $8.45 billion in the DeFi lending protocol Aave within 48 hours. In response to external doubts about the protocol's risk control capabilities, Aave founder and CEO Stani Kulechov stated that this incident precisely proves Aave's "resilience."Kulechov stated at the Proof of Talk conference in Paris that Aave V3 has withstood multiple market cycles and remains stable even in extreme market conditions. He believes that recent DeFi security incidents mainly stem from third-party infrastructure rather than vulnerabilities in the protocol's own smart contracts.However, according to risk analysis firm LlamaRisk, the attacker exploited a vulnerability in KelpDAO to mint worthless collateral and deposited it into Aave, subsequently withdrawing real wETH, resulting in approximately $123.7 million in bad debt for Aave V3. To address the crisis, Aave DAO urgently allocated 25,000 ETH, and Kulechov personally injected an additional 5,000 ETH, with a total rescue scale of about $300 million.In response to the exposed systemic risks, Aave is planning to restructure its risk management framework through the V4 upgrade. The new version will adopt a modular "Hub-and-Spoke" design, replacing the traditional liquidity pool model, allowing the protocol to implement independent risk pricing for different collateral types and freeze specific collateral assets before risk spreads, thereby reducing the likelihood of chain reactions triggered by cross-chain bridge failures.

Babylon Labs has initiated a temperature check proposal in the Aave community, proposing to integrate native Bitcoin as collateral on Aave V4 through the Babylon Trustless Bitcoin Vaults protocol.This solution does not require wrapping, cross-chain bridges, or custodians. Users will lock Bitcoin in Taproot UTXOs, and redemptions will be controlled by on-chain rules (such as loan repayments), settling directly to Bitcoin UTXOs. The proposal deploys two Aave V4 Spokes: Babylon Core Lending Spoke (lending) and BTC Vault Swap Spoke (post-liquidation settlement).Collateral exists in the form of vaultBTC, a transfer-restricted ERC-20 token that can only be transferred between fixed whitelisted addresses. In the liquidation process, liquidators can immediately settle with WBTC, and subsequent Bitcoin redemptions will be completed by arbitrageurs.

According to a message posted by Aave founder Stani Kulechov on X, Aave V4 is being gradually launched in phases, introducing a brand new dual-layer isolation market architecture. This architecture separates collateral into independent Hubs, with each Hub further divided into Spokes, implementing selective cap control for liquidity sharing between the Spokes within each Hub.The initial market structure is organized around three Hubs: Prime, Core, and Plus, with more Hubs expected to be launched in subsequent phases. This architecture achieves more refined collateral isolation and liquidity supply management compared to Aave's previous market design. The phased launch allows Aave to progressively deploy V4 while continuously monitoring performance and risk parameters under the new market structure before a full launch.

Aave officially announced an update to its bug bounty program to better match the risk characteristics of various parts of the ecosystem and simplify the review process. According to the latest adjustments, the bounty cap for critical bugs in Aave V4 and Core Aave V3 has been increased to five times the original amount.Aave Labs also proposed a reorganization of the bounty framework, placing different subsystems under the management of platforms such as Immunefi, Sherlock, and Cantina. The core components such as Core Aave V3, V2, and GHO will continue to be managed by Immunefi; Aave V4 and Aave App Stack will transition to Sherlock; and Aave V3 on Aptos will be managed by Cantina.

Aave DAO has initiated a governance proposal to establish a dedicated Bitcoin Spoke driven by the Babylon protocol in Aave V4, allowing users to use native BTC as collateral for lending without relying on wrapped BTC or centralized custody solutions.The proposal has been published on the Aave governance forum, seeking DAO approval to advance the integration and incorporate Babylon's native BTC into the V4 lending protocol's collateral assets. The proposal points out that Bitcoin is the largest crypto collateral base, but currently, most on-chain BTC lending relies on wrapped BTC variants, custodial intermediaries, or fragmented BTCfi platforms. The Aave V4 architecture will leverage Babylon's staking and validation infrastructure to provide a more direct native Bitcoin lending mechanism, integrating fragmented Bitcoin collateral lending into a unified protocol.

The BAI platform announced user data for May 11, showing that the platform gained 8,756 new users that day. While maintaining strong growth, the proportion of Stripe payments among the core paying group has risen to 69.0%, indicating a steady improvement in retention rates among traditional developers and production-level users. In terms of business structure, the DeepSeek-V4 series has contributed nearly 60% of Token consumption due to its extreme cost advantages. This series of models, with ultra-low latency, high concurrency, and high throughput capabilities, is becoming an indispensable core execution engine in the AI Agent era. The B.AI platform will continue to provide developers with efficient and economical model services, helping more AI-native applications to be implemented.

Deepseek official website launches deepseek-v4 interface and model introduction, including deepseek-v4-flash and deepseek-v4-pro.

According to official news, $U has officially landed on SunSwap V4, with liquidity pools fully open and trading functions enabled simultaneously. As an important step in the diversification process of the TRON ecosystem, the integration of $U not only expands the on-chain asset options for the community but also further enhances network liquidity and ecological depth. Experience $U exchange through SunSwap V4 now and explore more possibilities for decentralized trading.

According to CoinDesk, Aave has officially launched the v4 upgrade version on Ethereum after about two years of development, introducing a new architecture that separates the lending markets while sharing liquidity, aiming to expand DeFi from crypto-native lending to real-world assets and institutional use cases.The v4 version changes the way Aave organizes its markets, allowing different types of lending markets to operate independently while sharing the same liquidity pool, enabling users to conduct lending operations on assets beyond crypto tokens in the future. Aave Labs founder Stani Kulechov stated that lending is based on trust and needs to reflect market conditions. He also pointed out that this upgrade facilitates other teams to develop and expand on top of the protocol.In terms of capital efficiency, the v4 version can also reinvest idle funds within the system. The upgrade launched with a limited set of markets and conservative parameter settings, with more features to be added gradually following governance resolutions. This launch coincides with governance disputes within the Aave ecosystem regarding decentralization and revenue distribution issues.

According to official data, the on-chain activity of SunSwap has significantly increased, with all core indicators rising across the board. The data shows that the total locked value (TVL) of the platform has reached $502 million, growing by 2.29% within 24 hours; the trading volume over seven days has exceeded $621 million, surging by 50.37% month-on-month; and the number of trades in seven days has reached 74,290, an increase of 19.12%. With the continuous efforts of the SunSwap V4 version, the platform has further consolidated its core position in the TRON DeFi ecosystem with higher trading efficiency, providing users with a better trading experience.

According to market news, Aave Labs officially disclosed its Reinvestment Module plan in the V4 upgrade.Data shows that among the approximately $20 billion in stablecoin deposits on the Aave platform, about $6 billion (30%) has been idle for a long time. This module will automatically allocate excess reserves to governance-approved low-risk strategies (such as short-term government bonds, money markets, or delta-neutral trading), while keeping the funds available for withdrawal at any time, with no lock-up restrictions.

Aave DAO on Monday passed a preliminary proposal with nearly unanimous support to deploy the next-generation lending protocol Aave v4 on the Ethereum mainnet. v4 still needs to go through a subsequent formal vote, and initially, it will adopt conservative parameters and a streamlined asset allocation, prioritizing safety.The advancement of v4 previously sparked controversy within the DAO. The two main contributors, Bored Ghosts Developing and Aave Chan Initiative, announced that they would not seek to renew their contracts this year, partly due to Aave Labs' proposal to pause v3 optimization work and adjust lending parameters to encourage user migration. Labs later withdrew that proposal, committing not to enforce migration.Currently, Aave v3 remains the largest lending protocol in DeFi, with user deposits exceeding $25 billion. Labs stated that v4 adopts a hub-and-spoke architecture, which can support customized lending markets without fragmenting liquidity, significantly enhancing the DAO's revenue potential.

Aave DAO has officially initiated the community discussion process for the deployment of Aave V4 through the Aave Request for Comment (ARFC) proposal vote. This proposal received 100% support on the governance platform, marking a key step for the protocol towards a new round of significant upgrades.The ARFC is a non-binding phase aimed at collecting community feedback and optimizing the proposal, after which it will enter the formal on-chain Aave Improvement Proposal (AIP) voting and mainnet launch process. Aave V4 is expected to be deployed this year. This upgrade will introduce a brand new Hub and Spoke architecture, integrating liquidity through a unified Liquidity Hub, with multiple Spoke modules defining different lending rules, risk parameters, and collateral strategies, thereby enhancing capital efficiency and achieving more refined risk isolation.In addition, V4 will address the issue of liquidity fragmentation in the existing protocol, support a richer market structure, strengthen the integration of the native stablecoin GHO, and upgrade the liquidation mechanism. Aave stated that this architecture will evolve the protocol from a single lending model to a more flexible on-chain financial infrastructure, enhancing liquidity depth and risk pricing capabilities.

According to official news, at the latest TRON developer meeting (#57), the community focused on disclosing several core technology updates, including the progress of the v4.8.1 upgrade, the advancement plan for TIP-6780, updates to TronWeb, and subsequent version planning.According to the meeting content, the v4.8.1 network upgrade has completed its final preparations, and the conditions for proposal initiation are in place. Nodes that have not yet upgraded need to complete the update as soon as possible to avoid affecting block synchronization. Meanwhile, the community expects to initiate voting on TIP-6780 on April 7, to adjust the SELFDESTRUCT instruction, and relevant DApp developers need to prepare for compatibility in advance.On the tools front, TronWeb v6.2.2 has been officially released, and version v5 will no longer be maintained. Developers need to migrate to v6 as soon as possible to receive ongoing support and an optimized experience. Additionally, the meeting disclosed that v4.8.2 has entered the planning stage and is expected to be released in Q2 2026.

The TRON community has officially initiated a discussion on the proposal to enable new features in v4.8.1, planning to adjust the execution behavior and cost of the SELFDESTRUCT instruction in the TRON Virtual Machine (TVM) to further enhance compatibility between TRON and Ethereum EIP-6780.According to the current proposal, if the feature is ultimately enabled, the SELFDESTRUCT instruction will only truly delete a contract when called in the same transaction that creates the contract; in other cases, it will only transfer contract assets without deleting the contract. Meanwhile, the energy consumption of this instruction will be adjusted from 0 to 5000.Currently, the proposal is still in the community discussion phase. The TRON developer community is discussing issues related to the impact of the feature, launch timing, and ecological adaptation, and will decide whether to officially enable the feature based on community consensus.TRON also encourages developers to actively participate in the discussion and suggests that developers using the SELFDESTRUCT instruction pay attention to the progress of the proposal and prepare for adaptation in advance.

Aave founder Stani.eth announced on the X platform that Aave has released the Aave V4 Ethereum mainnet activation governance proposal. Aave V4 will introduce a modular architecture, where the liquidity center Liquidity Hubs holds shared liquidity, while Spokes define independent lending environments with governance restrictions. This version is also expected to launch a topology, promotion paths, implementation and control models, as well as an initial asset range for risk parameterization. Once the community reaches a consensus on this proposal, a Snapshot will be submitted for voting.