Consumer lending is structured through multiple intermediaries, including loan originators, servicers and securitizers, each adding fees before capital reaches borrowers or investors. Kevin Miao, co-founder and CEO of Tare, argues that rebuilding lending operations onchain could reduce those costs and direct more value to borrowers. Tare is developing consumer lending infrastructure natively on Avalanche, rather than merely tokenizing loans after conventional origination and servicing. Miao previously founded BlockTower Credit, a private credit fund that reached $1.9 billion in assets under management using blockchain technology to improve lending capital efficiency. At the Avalanche Summit 2026, held September 16-17 in New York City, he challenged the industry to assess whether onchain methods deliver better borrower outcomes. The event focused on institutional adoption and real-world asset use, with Franklin Templeton and Securitize discussing onchain credit, while a Hanwha Group collaboration on tokenized securities was also highlighted. Aave’s V4 launch on Avalanche in July 2026 marked the protocol’s first expansion beyond Ethereum and targeted lending against tokenized assets. Tare’s model relies on smart contracts to automate payment collection, compliance checks and investor distributions, potentially reducing the number of entities taking fees from each loan.