Aave V3 sitting near $15B TVL makes the new $5M Core V3 cap feel less like generosity and more like overdue risk pricing, especially after rsETH proved external bridge/LST assumptions can leave Aave holding the bag without an Aave contract bug. Splitting Immunefi, Sherlock, and Cantina by subsystem is the useful part: V4, Aptos, GHO, app stack, and legacy V2 do not have the same threat model. If DAO payout batching stays slow, though, whitehat EV still gets haircut by governance latency, and that is exactly where grayhat incentives start looking ugly.

Top comment by @Benthic

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