Solana聯合創始人Anatoly Yakovenko對X發起了爭執，聲稱以太坊的AAVE正在“虛榮指標”上運行

Yakovenko稱Kamino為卓越的協議，因為Solana Apps首先旨在盈利能力。

Solana Labs co-founder Anatoly Yakovenko started a feud on X, claiming that Ethereum’s Aave (AAVE) was running on “vanity metrics.” Yakovenko praised Kamino as the superior protocol, as Solana apps aimed for profitability first.

Solana Labs的聯合創始人Anatoly Yakovenko對X發起了爭執，聲稱以太坊的Aave（Aave）正在使用“虛榮指標”。 Yakovenko稱Kamino為卓越的協議，因為Solana Apps首先旨在盈利能力。

The co-founder of Solana Labs Anatoly Yakovenko started an argument on X with Stani Kulechov, co-founder of Aave (AAVE). Yakovenko claimed that profitability and economic activity were more important than value and assets under management.

Solana Labs的聯合創始人Anatoly Yakovenko與AAVE（AAVE）的聯合創始人Stani Kulechov在X上發起了爭執。 Yakovenko聲稱，盈利能力和經濟活動比管理中的價值和資產更為重要。

Kulechov was the first to claim that Solana’s decentralized finance (DeFi) is a copycat of Ethereum, especially the approach of Aave to create lending vaults.

庫爾喬夫（Kulechov）是第一個聲稱索拉納（Solana）的分散財務（DEFI）是以太坊的模仿者，尤其是AAVE創建貸款保險庫的方法。

The state of Solana DeFi:

Solana Defi的狀態：

- Copycat Aave's old tech

- 模仿Aave的舊技術

- Slap a half baked UI

- 打半烘烤的用戶

- Restrict also UK users from using it

- 限制英國用戶使用它

- Solana foundation president calls it a better product

- 索拉納基金會主席稱其為更好的產品

Expect people to buy the bluff. https://t.co/wbeDnwlBSu

希望人們購買虛張聲勢。 https://t.co/wbednwlbsu

— Stani.eth (@StaniKulechov) February 10, 2025

- 2025年2月10日

Yakovenko still claims that Kamino is superior, due to producing higher fees based on its value locked. However, Kulechov replied that Kamino achieves this by taking a bigger cut from users. Yakovenko kept claiming that Solana’s mission was to make its apps profitable, reflecting the real demand and economic activity on-chain.

Yakovenko仍然聲稱，由於其基於其價值鎖定的費用，Kamino是優越的。但是，Kulechov回答說，Kamino通過對用戶的更大削減來實現這一目標。 Yakovenko一直聲稱Solana的使命是使其應用程序有利可圖，這反映了真正的需求和經濟活動。

The discussion of Aave and the potential of lending on Solana started over the weekend, as Nansen’s founder Alex Svanevik suggested that the app may migrate to another chain. Currently, Aave is prioritizing its version on Base. Both Ethereum and Solana have their native app collections, but the question of Aave accelerated the chain wars and rivalry.

Nansen的創始人Alex Svanevik建議該應用程序可能會遷移到另一個連鎖店，因此對AAVE的討論及其在Solana上的潛力始於週末。當前，AAVE在基礎上優先考慮其版本。以太坊和索拉納都有其本地應用收藏，但是ave的問題加速了連鎖戰爭和競爭。

Due to its reward structure for validators, Solana’s network is heavily subsidized and has one of the biggest overall expenses for each dollar in app revenues. Solana spends $7 in subsidies for each $1 produced by apps. The recent boom in meme token trading is improving the ratio.

由於其對驗證者的獎勵結構，Solana的網絡得到了大量補貼，並且擁有每美元在應用收入中最大的總費用之一。 Solana為應用程序生產的每筆1美元花費7美元的補貼。最近的模因貿易繁榮正在提高比率。

Solana currently surpasses Ethereum’s fees on a weekly basis. Solana’s L1 chain produced $28.91M in weekly fees, mostly due to the need for priority fees and bribes. Ethereum produced $19.8M in weekly fees, while going through one of the slow periods with extremely low gas fees.

Solana目前每週超過以太坊的費用。 Solana的L1連鎖店每週收取2891萬美元的費用，這主要是由於需要優先費用和賄賂。以太坊的每週費用為1980萬美元，同時經歷了一個緩慢的時期，汽油費極低。

Solana DeFi produces fees despite lower TVL

儘管TVL較低，但Solana Defi仍會產生費用

In terms of economic activity, Solana generates more L1 fees, which do not go to app teams. Ethereum’s fees have fallen significantly, leading to record low gas prices. Both chains hold peak crypto economic activity based on their apps, but Solana’s founder claims the chain is more lively and more apps are becoming profitable.

在經濟活動方面，Solana產生了更多的L1費用，而該費用不涉及應用程序團隊。以太坊的費用大大下降，導致了低速價格。這兩個連鎖店都根據其應用程序擁有高峰加密經濟活動，但是Solana的創始人聲稱該鏈更加活躍，並且更多的應用程序變得有利可圖。

The community pointed out that Kamino was more suited to Solana’s active trading and asked why there was no version of Aave on Solana. Currently, lending protocol Sky is trying to launch its version on Solana, but Aave has shown no similar interest.

該社區指出，卡米諾更適合索拉納（Solana）的積極交易，並詢問為什麼在索拉納（Solana）上沒有版本的Aave。目前，Lending Stopolation Sky試圖在Solana上啟動其版本，但AAVE並沒有表現出相似的興趣。

Aave V3 currently leads in terms of total value locked, at $19.15B, which also signals the protocol’s levels of activity and the inclusion of whales. Kamino carries $2.36B TVL.

AAVE V3目前以鎖定的總價值為$ 19.15B，這也標誌著協議的活動水平和鯨魚的納入。 Kamino攜帶$ 2.36B TVL。

Based on the value locked, Kamino achieved $15M in monthly revenues, while Aave reached $56.88M. Yakovenko claimed that those numbers showed Kamino was more efficient, achieving better income per value locked. Kamino has more than $3.52B in total deposits and $1.4B in total loans. The amount was split in over 158K loans, for a relatively small average amount of lending and borrowing.

根據鎖定的價值，卡米諾每月獲得1500萬美元的收入，而AAVE達到5688萬美元。 Yakovenko聲稱，這些數字顯示Kamino更有效，每個價值鎖定的收入更高。 Kamino的總存款總額超過$ 3.52B，總貸款總額為1.4B美元。該金額在超過158K的貸款中分配，平均貸款和借款的平均數量相對較小。

One of the reasons for Kamino’s performance is the bigger Solana user base, with over 5M daily active wallets. Some of Kamino’s users also crossed over to the meme token market, making for highly active loans and a high turnover. Kamino was one of the main sources of liquidity for tokens like DogWifHat (WIF), which relied on lending for additional trading volumes. Combined with higher fees, this led to an overall positive performance for Kamino.

Kamino性能的原因之一是較大的Solana用戶群，每天有超過5m的活動錢包。 Kamino的一些用戶還跨越了Meme令牌市場，可提供高度活躍的貸款和高營業額。卡米諾（Kamino）是諸如Dogwifhat（Wif）等代幣的主要流動性來源之一，該代幣依靠貸款來支付額外的交易量。加上更高的費用，這導致了Kamino的總體積極表現。

Ethereum DeFi on the other hand served mostly whales and early adopters, looking for vaults to park their holdings. A big part of Ethereum’s DeFi aims to tap the value of idle, staked ETH, which builds up a bulk of upfront stored value. However, the value was often mismatched when it came to economic activity. DeFi on Ethereum was recovering more slowly and traders were more cautious of liquidations during the latest bull market.

另一方面，以太坊Defi主要是鯨魚和早期採用者，他們正在尋找庫存的保險櫃。以太坊defi的很大一部分旨在利用怠速，固定的ETH的價值，該價值建立了大部分前期存儲的價值。但是，在經濟活動方面，價值通常不匹配。以太坊的Defi恢復的速度較慢，在最新的牛市期間，交易者對清算更加謹慎。

Solana currently has limited liquid staking and liquid re-staking, which is one of the biggest sources of DeFi liquidity. On the other hand, Solana carries $12.36B in stablecoins, which are actively used for

Solana目前的液體蒸發和液體重新制定有限，這是Defi流動性的最大來源之一。另一方面，Solana攜帶$ 12.36B的Stablecoins，可積極用於