According to CoinMeta, the founder of AAVE and also involved in CEO Stani Kulechov stated that after the U.S. Senate voted 49 to 50 against advancing Clarity Act, DEFI may need to follow a regulatory path similar to Uber, which involves first expanding the actual scale of use before promoting the formation of a regulatory framework. He still hopes that Clarity Act can make progress this year. In the next phase of AAVE, there will be a focus on expanding tokenized stocks, securities, and other RWA. They have already launched RWA Hub for institutional lending in Avalanche, allowing some tokenized assets to be used as collateral to borrow stablecoins. Kulechov mentioned that institutional funds are relatively large in scale and could become an important source of demand for on-chain lending. Currently, the main bottleneck for tokenization and DEFI has shifted from technology to market implementation. AAVE also plans to launch a simplified savings application for consumers, lowering the barriers to using wallets, networks, and stablecoins, and supporting fund transfers between bank accounts and AAVE.