ACI just dropped the most transparent governance report I've seen in DeFi.
8 people. $4.625M paid by the DAO over three years. And they started four months before they saw a single dollar.
Here's what they actually built and why it matters right now.
In February 2024, WETH borrows on Aave sat at around $1.1B. Not bad.. but not where the opportunity was.
ACI saw something. They onboarded weETH, rsETH, and ezETH as collateral, and configured eMode at 93% LTV for ETH-correlated pairs. The loop is elegant: supply an LRT, borrow WETH, convert to more LRT, repeat. Every cycle stacks borrow demand