#密码资产动态追踪 Recently, many people have been claiming that the Fed might significantly cut rates next week, and they're extrapolating that DeFi lending will become "zero-cost arbitrage." Suddenly, everyone wants to rush to Lista DAO to borrow lisUSD, as if money is falling from the sky. $ETH hit new highs, and market sentiment became frenzied. But we need to think clearly—does this logic really hold up?
The key issue is this: Lista DAO's lending rates are not controlled by the Fed at all. The interest rates in on-chain liquidity pools are automatically adjusted by supply-demand algorithms, which are hardcoded rules written into the code. When large numbers of users simultaneously rush in, deposit collateral, and borrow, the on-chain capital utilization rate spikes instantly, and the algorithm automatically triggers "risk mode." At that point, borrowing rates could jump from 1% directly to 10%, 15%, or even higher.
In other words, you think you're "borrowing to farm," but in reality, you might be stepping into a high-interest trap. Before entering, I suggest you run this stress test: assume your borrowing rate gets pushed to 15% over the next 30 days—can your position still hold? Will liquidation risk detonate prematurely?
If the simulation result is "no," then no matter how hot the market sentiment is, don't follow the herd. The real "central bank" in DeFi isn't some institution—it's that piece of code that will never soften, only coldly execute. It has no warmth and shows no mercy—as long as conditions are met, liquidation will happen.
Rather than blindly rushing in, it's better to wait and see. After the first wave of liquidations settles and market sentiment returns to reason, that's actually the safer entry point.
#密码资产动态追踪 Recently, many people have been claiming that the Fed might significantly cut rates next week, and they're extrapolating that DeFi lending will become "zero-cost arbitrage." Suddenly, everyone wants to rush to Lista DAO to borrow lisUSD, as if money is falling from the sky. $ETH hit new highs, and market sentiment became frenzied. But we need to think clearly—does this logic really hold up?
The key issue is this: Lista DAO's lending rates are not controlled by the Fed at all. The interest rates in on-chain liquidity pools are automatically adjusted by supply-demand algorithms, which are hardcoded rules written into the code. When large numbers of users simultaneously rush in, deposit collateral, and borrow, the on-chain capital utilization rate spikes instantly, and the algorithm automatically triggers "risk mode." At that point, borrowing rates could jump from 1% directly to 10%, 15%, or even higher.
In other words, you think you're "borrowing to farm," but in reality, you might be stepping into a high-interest trap. Before entering, I suggest you run this stress test: assume your borrowing rate gets pushed to 15% over the next 30 days—can your position still hold? Will liquidation risk detonate prematurely?
If the simulation result is "no," then no matter how hot the market sentiment is, don't follow the herd. The real "central bank" in DeFi isn't some institution—it's that piece of code that will never soften, only coldly execute. It has no warmth and shows no mercy—as long as conditions are met, liquidation will happen.
Rather than blindly rushing in, it's better to wait and see. After the first wave of liquidations settles and market sentiment returns to reason, that's actually the safer entry point.