币界网报道：Aave has introduced its new Umbrella staking system, replacing the previous theoretical insurance model, providing an on-chain automated safety net directly tied to a single asset. USDC and USDT vaults currently offer yields of over 10%, but there is a mismatch in the reward structure for Aave’s custom stablecoin GHO, resulting in a peculiar dynamic for GHO holders in their pursuit of yield. The Umbrella system introduces a real-time slashing mechanism, which automatically slashes stakers’ assets when the bad debt of an asset exceeds a preset threshold, without the need for a governance vote. The old security module still exists, but the slashing function is disabled, mainly as a source of governance power and residual income. The Umbrella system brings a new risk and return structure, especially the difference in returns for stkGHO and sGHO, which has sparked user discussion. In the future, Umbrella plans to be deployed on L2, which may completely replace the old security module and achieve a more credible real-time insurance mechanism.