How to secure $70 billion in DeFi: Aave's approach to Web3 security w/ Ernesto Boado (BGD Labs)

Description

Managing $70 billion in DeFi assets while executing five major protocol upgrades sounds impossible—until you hear how BGD Labs systematically built the frameworks to make it work. Ernesto Boado breaks down the documentation standards, security partner rotation strategies, and scale-invariant approaches that kept Aave secure through continuous evolution. Discover the operational playbook behind one of DeFi's most successful upgrade strategies and why most protocols get security partnerships completely wrong. CHAPTERS: 00:00 Introduction to AAVE and Ernesto Boado 00:50 Guest Introduction - AAVE's Scale and Impact 01:50 Ernesto's Background and Journey into Blockchain 02:52 Early Days at Ethlend and Pre-DeFi Era 04:28 Getting Started in Technology and Programming 06:52 Career Before Blockchain - Geographic Systems 07:41 Discovering Ethlend and Making the Jump 08:52 Moving to Switzerland and Early Team Dynamics 11:02 Initial Role and Responsibilities at Ethlend 12:54 Evolution of Development Tooling (2018 vs Today) 16:40 Managing Code and Staying Current with Research 19:22 Balancing Technical Work and Management 20:19 Governance Challenges with $70B in Assets 23:56 Feature Addition vs Security Trade-offs 27:58 Scaling from $10M to $70B TVL - Mental Framework 33:00 Advice for DAOs on Decentralization Strategy 39:15 AAVE vs Uniswap Upgrade Approaches 45:04 Managing V3 and V4 Protocol Versions 49:14 Future Focus Areas and Development Plans 53:23 AAVE's Security Process and Audit Approach 55:50 Working with Security Firms and Partners 01:00:12 Advice for Independent Security Researchers 01:05:12 Impact of AI on Web3 Security 01:09:56 Controversial Takes on Web3 Security 01:15:11 Future Outlook for AAVE and DeFi 01:18:19 Closing Remarks GUEST: Ernesto Boado, Co-Founder of BGD Labs (Aave Core Contributor). Since joining ETHLend in 2018, he has overseen Aave's evolution from early DeFi experiments to managing over $70 billion in assets across multiple networks. BGD Labs serves as core contributors to Aave's development and security through independent DAO contracts. TOOLS & FRAMEWORKS MENTIONED: Foundry development framework Hardhat testing environment Formal verification techniques Competitive security tournaments Multi-auditor documentation standards RESOURCES: BGD Labs governance proposals and technical documentation Aave protocol upgrade history and architectural changes Subscribe for more deep technical conversations with the builders securing billions in Web3 assets. Hit the notification bell to catch every episode. CONNECT WITH ERNESTO: linkedin.com/in/ernesto-boado CONNECT WITH JACK: linkedin.com/in/jacksanford