i think you could compare @aave $aave right now to the bank of hawaii.
similar market cap. similar profitability
bank of hawaii secures $23b in customer assets
aave secures $55b in customer assets
they're profitability is similar because aave makes a smaller margin than traditional banks...
aave isn't a bank as much as it's a balancing system to match borrower and lender. it takes a smaller cut, it passes more onto the lender and borrower.
at the same time, it is infinitely scalable, is dominant/best in class in decentralized borrowing and lending
it's hilarious to me the bank of hawaii and aave are valued similarly with the massive difference in potential
this doesn't even take into account the burgeoning rwa and stablecoin growth arms that could become significant contributors to aave's core business
my thesis is time will show that aave is worth much, much more than the bank of hawaii
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