Aave’s protocol innovations, like the introduction of Aave V3 and flash loans, have propelled its TVL to new heights, reflecting robust investor interest and liquidity provision. This surge enhances its investment value by positioning Aave as a DeFi leader. However, user stickiness lags, as flash loan users often engage in one-off transactions rather than ongoing participation. While TVL paints a rosy picture for short-term value, long-term investment potential hinges on converting transient users into committed ones.