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@furan86999 @protocol_fx I agree that capital efficiency is more robust than TVL, but if f(x)'s leverage + stable returns + delta neutral are all based on the same pool of wstETH collateral, it's essentially intra-protocol re-collateralization. When liquidation hits, these "products" will be liquidated simultaneously, maximizing their correlation. The real question is: how much of these yield streams come from genuine external demand, and how much is just the same batch of assets being moved from one hand to the other within the protocol?

@furan86999 @protocol_fx x.com/i/status/208384724619010…

@furan86999 @protocol_fx Interesting to know

@furan86999 @protocol_fx The image says "maximizing capital efficiency," but now protocols aren't about capital volume anymore, they're about the working class spirit.

@furan86999 @protocol_fx The diagram really visualizes maximizing capital efficiency, leveraged trading, and profit strategies together. I hadn't paid much attention to this perspective before; I didn't realize that the same amount of capital could work in such a coordinated way. I wonder which strategy is easier for the average user to grasp.

@furan86999 @protocol_fx Efficiency in capital utilization is the real skill; simply piling on TVL will eventually turn the pool into a zombie pool.

@furan86999 @protocol_fx Capital efficiency is more practical

@furan86999 @protocol_fx 資本效率拉高啊

@furan86999 @protocol_fx I completely agree. TVL competitions should have been a thing of the past.

@furan86999 @protocol_fx The perspective of capital utilization rate is indeed more practical.

@furan86999 @protocol_fx Capital utilization is the real skill; this thinking is insightful.

@furan86999 @protocol_fx Reject TVL (Telematics Limitation) and pursue capital efficiency.

@furan86999 @protocol_fx The project team has a narrative, and the ecosystem is stable.

@furan86999 @protocol_fx Money needs to be used, not just left to gather dust.

@furan86999 @protocol_fx Liquid money is better than dead money

@furan86999 @protocol_fx This project looks good.

@furan86999 @protocol_fx This angle is definitely interesting.

@furan86999 @protocol_fx This idea of ​​capital efficiency is absolutely brilliant!

@furan86999 @protocol_fx True skill lies in using the same money repeatedly.

@furan86999 @protocol_fx From pursuing TVL to improving capital efficiency, the competitive focus in DeFi is shifting. 📈

@furan86999 @protocol_fx That's a good angle. DeFi isn't about who can attract the most money, it's about who can get the money moving.

@furan86999 @protocol_fx Money only has value when it's circulating.

@furan86999 @protocol_fx This point is actually worth elaborating on. There are many TVL protocols that are bloated, but only a few can truly make assets circulate.

@furan86999 @protocol_fx capital efficiency over tvl is the real endgame tbh

@furan86999 @protocol_fx Only when assets are in motion can imagination be unleashed.

@furan86999 @protocol_fx Others compare who locks the most, while f(x) compares how many tricks it can pull off with the same dollar.

@furan86999 @protocol_fx Create more value

@furan86999 @protocol_fx A truly mature protocol is not just about the size of its funding.

@furan86999 @protocol_fx One dollar is like three dollars – that's amazing!

@furan86999 @protocol_fx The efficiency of funds is still very important.

@furan86999 @protocol_fx I bet nobody's more adventurous than me 🤫😻 I'm not shady, just look!

@furan86999 @protocol_fx Stacking TVLs is indeed meaningless.

@furan86999 @protocol_fx This leverage is maxed out, it's insane!

@furan86999 @protocol_fx The capital utilization rate determines the ceiling.

@furan86999 @protocol_fx Capital utilization rate is the true moat.

@furan86999 @protocol_fx I bet nobody's more adventurous than me 💜🙃 I'm not a jerk, you'll see!

@furan86999 @protocol_fx I'm so lewd 🐟🐧 Anyone want to give my Furan a sharp critique?

@furan86999 @protocol_fx That's right

@furan86999 @protocol_fx I bet nobody's more adventurous than me 💃🥐 I'm not being shady, just look!

@furan86999 @protocol_fx I doubt anyone plays this game more wildly than me 🐭🎹 I'm not a jerk, you'll see!

@furan86999 @protocol_fx Capital efficiency is a far more meaningful metric than TVL alone.

@furan86999 @protocol_fx With improved capital utilization, TVL will naturally follow suit, which is much healthier for liquidity than simply subsidizing.

@furan86999 @protocol_fx smart capital movement is future of defi

@furan86999 @protocol_fx I'm so cheesy 🍊🥋 Anyone want to give my Furan a sharp critique?

@furan86999 @protocol_fx The idea of ​​capital efficiency is indeed more advanced than simply stacking TVL; the real skill lies in getting money moving.

@furan86999 @protocol_fx Capital efficiency is indeed key.

@furan86999 @protocol_fx I doubt anyone's more adventurous than me 🏖️🚜 I'm not being shady, just look!

@furan86999 @protocol_fx t

@furan86999 @protocol_fx I'm so lewd 🔔🚁 Anyone want to give my Furan a sharp critique?

@furan86999 @protocol_fx I doubt anyone's more adventurous than me 🧩🏍️ I'm not a jerk, you'll see!