TL;DR: Aave Horizon has become the leading platform for real-world asset collateral, growing to $550M as users borrow stablecoins against high-yield RWAs to profit from the yield spread. LlamaRisk upgraded safety with LlamaGuard NAV, which uses Chainlink-powered checks to prevent bad pricing data from triggering liquidations. The ecosystem is expanding with assets like RLUSD, VBILL, JAAA, USCC, and more issuers coming, with strong growth expected especially from credit-based products like AAA CLO exposure.

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