Active Loans are one of the best indicators to measure a lending protocol, rather than TVL. At this level, Aave is still far ahead, accounting for over 60% of the entire network. The upcoming lending protocol WLFI Markets is about to launch, and it will be very interesting to observe whether it can pose a challenge to Aave in terms of scale. If it cannot change the existing lending market landscape, it will further reinforce Aave's competitive moat. I believe that WLFI Markets still has an advantage in the institutional demand market. Aave clearly pointed out the current market situation when it set its 2026 strategic roadmap, stating that the existing capital on DeFi chains is already very fixed and saturated. Therefore, Aave's growth will also rely on RWA/institutional demand, and in this area, WLFI Markets seems to have certain channel advantages. It depends on how the project team thinks; competing for the on-chain market may not be a wise choice.