AAVE V4 DEPOSITS ARE CONCENTRATED IN PARTNER-BUILT HUBS

Summary from the TLDR Crypto newsletter

About 59% of deposits in Aave's new V4 markets sit in three partner-focused hubs (EtherFi Cash, Global Dollar, and Coinbase Stocks), together holding about $409M of the roughly $695M across 10 new markets. EtherFi's Cash hub alone holds $311.5M, nearly 45% of Q3 V4 deposits, and the DAO gets 20% of its revenue with no operating costs. Sentora has proposed a similar curated structure with a 50/50 revenue split, pending governance approval.