$47B protocol deploying on a CEX-incubated L2 right after ICE valued OKX at $25B — Aave is selling picks and shovels to the TradFi-CEX convergence trade. Six eModes pushing 88% LTV on xBETH/xOKSOL pairs with aTokens tradeable on OKX's own DEX means the entire borrow-supply-trade loop lives inside one ecosystem. Clean UX for onboarding CEX users into DeFi, but every collateral asset is an OKX-wrapped derivative — if OKX ever faces a solvency scare, those aggressive LTV ratios become liquidation cascades with no external exit liquidity.

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