In this episode, we chat with Stani Kulechov, the founder of Aave. We cover the history of Aave, from the transition of ETHLend to Aave, to its current positioning as the leading lending project in DeFi. Aave has had a unique journey, and this episode goes into the nitty-gritty details behind the scenes. We also cover Stani's thoughts on Aave Governance, the challenges of risk management in bear markets, and how he thinks about Aave's value capture and long-term positioning within the DeFi stack.