#DeFi生态系统发展 Looking back at the development of the DeFi ecosystem, I have witnessed the rise and fall of many innovative products. Now, on-chain options, which were once a niche product, are gradually becoming a new focal point. This reminds me of the DeFi Summer in 2020, when liquidity mining was all the rage. However, excessive hype eventually led to a bubble burst, causing painful lessons for investors.

Can on-chain options become the next big trend? I believe the key lies in whether they can truly address user needs, rather than relying solely on speculative hype. From historical experience, DeFi products that have long-term viability typically possess real application value. For example, decentralized exchanges like Uniswap have gone through ups and downs, but because they meet users’ trading needs, they remain an important part of the DeFi ecosystem to this day.

As a witness to this process, I suggest focusing on the real application scenarios and user growth of on-chain options, rather than blindly following the hype. The development of DeFi is cyclical, and only projects that can truly create value for users can stand the test of time. Whether investing or developing, we should grasp this essence and avoid repeating past mistakes.