Despite innovation, increased competition from other DeFi lenders exploring novel interest rate models or P2P borrowing designs could challenge Aave’s user stickiness if those models offer superior yields or lower costs, meaning innovation alone must continuously translate into tangible benefits to protect both TVL and investment appeal.
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Governance participation is also a useful signal of project health. Voting frequency, number of unique voters, and proposal success rates can be measured directly on-chain. By querying governance contracts in Dune, analysts can assess whether a project’s community is actively involved or largely passive, which affects long-term sustainability and perceived value.
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Chainlink’s dominance is built on trust, but innovation is decentralizing that trust. New oracle projects are proving viable in production. While Chainlink remains the top choice for many, competition is ensuring it can’t stand still. The oracle market is evolving rapidly.
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