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這次 Aave 的清算危機討論,其實就是極端行情下的一次風控壓力測試:只要價格預言機、清算機器人或者市場流動性其中一個環節卡住,自動化清算就會失靈,風險敞口迅速放大。
Stani 提到風險管理工具的問題,其實點出了 DeFi 的核心矛盾:在平靜市場裡像精密機器一樣順滑,但遇到黑天鵝,就立刻變回一場赤裸裸的流動性博弈。