The discussion primarily revolved around the recent market downturn and its impact on Aave V2. Pauljlei provided valuable insights, stating that despite the downturn, there were no significant insolvencies on Aave V2. This was largely due to the optimization of Gauntlet's platform for capital efficiency, which has been instrumental in increasing Aave's revenue potential while keeping risk at manageable levels. Between May 8th and May 15th, Aave v2 experienced approximately $109M in liquidations, primarily driven by ETH and WBTC. However, these were absorbed by the market without leading to any major insolvency. The only insolvencies were minor dust accounts, with the largest being around $400¹.

Fig raised a query regarding the absence of UST's impact on borrowers and the lack of mention of liquidations from stETH. In response, Pauljlei clarified that the impact of UST on borrowers was minimal. He also confirmed that there were indeed liquidations from stETH, amounting to 3.9MM USD during the same period^2,3.

In conclusion, despite the market downturn, Aave V2 managed to maintain stability, with no significant insolvencies. The platform's capital efficiency and risk management strategies played a crucial role in this. The impact of UST on borrowers was minimal, and liquidations from stETH were confirmed, further demonstrating the resilience of the platform during this period.