Stani Kulechov on Aave V4, Avalanche, and why RWAs will hit $100 billion this year

Episode 17 of Layer One, hosted by The Block's Kelvin Sparks and Ava Labs President John Wu, was recorded with Aave Labs Founder Stani Kulechov.Listen below, and subscribe to Layer One on YouTube, Spotify, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected] Episode 17 of Layer One, The Block’s Kelvin Sparks and Ava Labs President John Wu were joined by Aave Labs Founder Stani Kulechov, who explained how the protocol that processed over $3 trillion in deposits is pointing its infrastructure at tokenized real-world assets — starting with Aave V4's first non-Ethereum deployment on Avalanche and the Horizon securities market. He also breaks down GHO, the forthcoming consumer Aave App, and why he thinks RWAs will double to $100 billion by the end of 2026.OUTLINE 00:00 - Introductions03:15 - Aave by the Numbers04:50 - V4 and Horizon06:26 - The Great Convergence11:11 - Why Avalanche18:19 - Killing the Prime Broker24:39 - Walled Gardens32:33 - The GHO Engine37:18 - The Aave App44:23 - $100B by 2026 GUEST LINKS Stani Kulechov - x.com/StaniKulechovAave - x.com/AaveHOST LINKSJohn Wu - ⁠⁠⁠x.com/John1wuKelvin Sparks - x.com/imyoungsparks⁠⁠⁠The Block - x.com/TheBlockCoAva Labs - x.com/avalabsAvalanche - x.com/avaxThe Block Newsletters The Block's newsletters bring you the latest news and analysis of the fast-moving crypto and DeFi markets. To subscribe, visit theblock.co/newsletters Are you hiring in crypto? Use Campus to quickly find your best candidates with our challenging Crypto Assessment Test.Faster hiring, stronger teams.Sign up for a trial today: theblock.co/campusDisclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.