Uploaded April 2026 | Updated September 2026, 1 week ago
Lily Liu explains why the Solana Foundation is lending USDT into @aave for the first time to support their recovery efforts:
"If people lose confidence in DeFi overall, that's just bad for everybody...you can spend 99% of your time competing with one another, but every so often, it's important to pull up and be like, well, as an industry, we're still so miniature compared to how global finance works...but then there's existential times when there can be more structural loss of confidence in what we're all doing as an industry.
As we were observing what was happening with Aave over the last couple of weeks, I think that was one of those times where there's just these defining moments when you either get a good outcome or things just wither away...
I think it would be a pretty short-sighted and pretty petty way to look at it would be to say, 'Oh, my competitor is suffering, therefore that's good for me.' That's just really not the way we see it."
– Lily Liu, President of the Solana Foundation along with Wormhole Labs CEO Saeed Badreg
Lily Liu explains why the Solana Foundation is lending USDT into @aave for the first time to support their recovery efforts:
"If people lose confidence in DeFi overall, that's just bad for everybody...you can spend 99% of your time competing with one another, but every so often, it's important to pull up and be like, well, as an industry, we're still so miniature compared to how global finance works...but then there's existential times when there can be more structural loss of confidence in what we're all doing as an industry.
As we were observing what was happening with Aave over the last couple of weeks, I think that was one of those times where there's just these defining moments when you either get a good outcome or things just wither away...
I think it would be a pretty short-sighted and pretty petty way to look at it would be to say, 'Oh, my competitor is suffering, therefore that's good for me.' That's just really not the way we see it."
– Lily Liu, President of the Solana Foundation along with Wormhole Labs CEO Saeed Badreg
