According to ChainCatcher citing The Defiant, Aave Chief Strategy and Business Development Officer Luigi D’Onorio DeMeo said borrower liquidations totaled about $18 million the previous day and about $21 million that day, or roughly $39 million over the two days. A position may be liquidated when a borrower’s collateral is insufficient to support the loan, but the liquidation amount does not represent losses incurred by Aave lenders.