If that number is accurate, that’s massive.
But this is exactly why I size carefully in DeFi —
not just based on TVL or hype, but on how protocols behave under stress.
Most systems look fine… until they don’t.

Personally, I’d start small, observe behavior under stress (volatility, liquidations),
and only scale once the system proves resilience over time.

• Risk parameters stability (no sudden governance changes or liquidity shocks)
• Audit + bug bounty track record

TVL helps, but it can be inflated by incentives.
What matters more is whether the liquidity is “sticky” and tied to real usage.

sorry for late reply.

I don’t rely on TVL alone to size up exposure.

For something like Aave V4, I’d look at a combination of:

• Time in production (at least a few months without major incidents)
• Battle-tested usage (real borrowing demand, not just incentives)

CryptoAZ Round 2 #7 - fariswebb Mantle: Why I’m Investing

Considering to invest in a layer 2 network? Or considering to buy the coin of another blockchain? In that case you should read @fariswebb.bsky.social 's thoughts on Mantle, a layer2, and why he has invested in it⬇️ #crypto #xrp #solana #ethereum #mantle
substack.com/home/post/p-...

I'm testing something new.

Launching
👉CryptoAZ Genesis (Test)

Only 10 NFTs. Free mint.

This is NOT about art.
It's proof you were early.

To join:

1. Follow

2. RT

3. Comment "early"

I'll pick 10 people.

I'm testing something new.

Launching
👉CryptoAZ Genesis (Test)

Only 10 NFTs. Free mint.

This is NOT about art.
It's proof you were early.

To join:

1. Follow

2. RT

3. Comment "early"

I'll pick 10 people.

CryptoAZ Round2 #6 - fariswebb Symbiotic Is Not About Yield — It’s About Risk, and Why I’m Not Deploying Capital Yet

Considering restaking on #ethereum? @fariswebb.bsky.social writes why he's not using restaking protocol Symbiotic. In contrast it may be interesting to see what he writes about "Y is for Yearn #Finance", a post on Bluesky. #crypto #btc
substack.com/home/post/p-...

CryptoAZ Round2 #5 — EigenLayer - fariswebb EigenLayer: Security Marketplace or Systemic Risk?

What if you didnt just stake #ETH but staked the same ETH again, to get rewarded to verify something else? @fariswebb.bsky.social takes a look at the current state of EigenLayer, the restaking protocol #ethereum #btc #crypto
substack.com/home/post/p-...

Yes, for smaller amounts buying sUSDe directly is usually the simpler option.
Minting USDe and staking tends to make more sense for larger positions or more active strategies.

Thanks bro🙏
I will continue create article.
I hope you enjoy that.

Thanks BRO.🙏😀🙏

Thanks so much, bro.
Your support really means a lot to me.
Truly appreciate it.

That said, it's still something to size carefully and monitor.
It's resilient, not risk-free.

For sUSDe, I'm comfortable holding it and then using Yearn to optimize yield on top.
I'm not chasing APY here - I'm parking capital in a structure that's been stress-tested, while letting carry do the work.

Temporary depegs happen in DeFi - the key question is how the system recovers.
in USDe's case, the structure remained intact and the peg recovered without a death spiral, which is a meaningful signal to me.

Personally, I do see Ethena as investment-grade at this point.
What matters most to me is that it has held together through significant market stress.

Collateral being “gone” usually means under-collateralization during liquidation, not deposits disappearing 1:1.
Still, trust impact matters more than the absolute number.

Good question.

$1.8M is material for a protocol like Moonwell, but whether it’s existential depends on:
– size of insurance / reserves
– how the bad debt is socialized
– whether the exploit is contained

Thanks!!!
Appreciate the feedback.🙏
I'll add some visuals in the next one.

From Round 2 onward, I'll be writing one article per week, so I'd really appreciate it if you read them whenever you have time.

Thanks as always for the support, it really means a lot and keep me motivated 😆👍

CryptoAZ Round 2 #1 — Term Finance: Fixed Rates, Wrong Timing Why strong fixed-rate design struggles in a low-demand DeFi market

Best practices sounds like a great idea - reader feedback like this is super helpful.
Thank you!!!
I've actually already published one article, so I'll share the link here.
open.substack.com/pub/farisweb...

I'm doing cryptoAZ Round2 as written pieces on Substack & Paragraph - happy to share if you're interested.

Really appreciate that, thanks!!
I'll keep the A-Z series going, but focusing more on how these apps are actually used, not just what they claim to do.
Aave, Gnosis, and BTC L2s are all on my radar.

10/10: Final Message 🚀

The alphabet is done.
The future is just beginning.
Thank you for running this race with me from A to Z!

What’s next? Day 27 is looking interesting... 😉 Stay tuned.

#cryptoAZ #zkSync #ZK #Ethereum #L2 #ZeroKnowledge #Web3 #TheEnd #Finale

9/10: Final Gratitude 🙏

To everyone who followed this sprint every single day: THANK YOU.

Your likes, retweets, and energy were the fuel for this 26-day marathon.

I hope this series serves as your mini-guidebook to the future of Web3.

8/10: MISSION ACCOMPLISHED! 🏁

26 days of pure grit. From A to Z, we’ve mapped out the entire frontier of the New Finance.

Every dot is now connected.

7/10: Connecting the Dots 🧩

The fixed rates of Notional, the pro trades of dYdX—all these "DeFi Legos" need a scalable foundation to survive.

zkSync is the bridge that turns niche tech into a global financial standard.

6/10: The 26-Day Journey 🔄

A: Aave (Lending) M: MakerDAO/Sky (Stability) Y: Yearn (Optimization) Z: zkSync (Scalability)

Everything we learned now has a home where it can run perfectly.