Like the title says it should be possible to create an AAVE like platform governed by PNG token holders. To incentive lending we could give part of the PNG yield to lenders. This does not need to happen from dilution, we could reduce the PNG rewards of all pools except AVAX/PNG a bit.
In addition to that, the platform could be fully integrated in the PNG website creating a tab called margin where depending on your collateral you are able to borrow 1-20-100x or whatever of one currency.
This integration would make pangolin one step closer to offering the functionalities of a cex and would add a lot of value to PNG since it would be a governance token for both a Dex and a Lending protocol. In the future synthetics could also be added.
If we follow this strategy instead of ending with lots of governance tokens for each function (save/uni/and…). We could have one token that governs it all and a platform that seamlessly integrates several protocols.