Thanks, now I hopefully get it right, I’ll try to write how I understand it: Bob puts 1000 AMPL in Aave, Bill borrows 100 of those. Rebase is +5%. Bills borrowed AMPL are in his wallet, so he will have 105. The AMPL Bob had put in Aave will be rebased only for the part that’s borrowed, so his share now is 1005 (905+100), that gives a match and is fine. Now Bill realized his Ampl has gone up and he decides to repay the 100 AMPL, this will give him a profit of 5 AMPL (not adding the interest to keep the calculation simple). Bob now owns the 1005 AMPL instead of 1050 AMPL which he would have if he kept the amount in his wallet. And while this isn’t a favorable outcome for Bob it will be the opposite during negative rebase cause he protects part of his holding from this. Right?