Aave V4’s preview outlines its upcoming updates, including unifying the liquidity layer to reduce liquidity dispersion, introducing a fully automatic interest rate adjustment mechanism, a liquidity premium mechanism to dynamically adjust borrowing rates, and launching smart account and treasury functions to improve user experience. , dynamic risk parameter configuration, excess debt protection mechanism, native integration with GHO stablecoin, and the planning of Aave Network. These updates aim to improve capital efficiency, risk management and user experience. At the same time, the proposal of Aave Network seems to have some stubbornness of old DeFi projects, and questions remain about its necessity and specific implementation plans.