Max Bareiss, Head of Lending at Galaxy Digital, argues that software agents can borrow, trade, short positions and repay onchain without human intervention. Decentralized finance supports this model through predetermined liquidation thresholds, always-available liquidity and atomic settlement. Galaxy has notably used Aave since at least September 2025 to borrow stablecoins against Bitcoin and Ethereum collateral. The firm also allocated $100 million to the Sky ecosystem and launched GOFR, an aggregate borrowing rate spanning Aave, Morpho and Spark. Adoption of this rate, deployment of the Sky allocation and the emergence of agents as clients of institutional lenders will be the main developments to watch.
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