Treehouse: In a high-volatility market, who will provide the 'interest rate foundation' on-chain?
Author: Qingfeng BTC | Web3 researcher / market analyst
One, why do we need 'on-chain fixed income'?
The crypto market experiences a 'narrative change' every so often: from Layer1 to Layer2, from DeFi Summer to GameFi, NFT, Restaking, AI+Crypto…
Every narrative has ignited FOMO and has experienced bubble corrections. But what remains unchanged is that the basic assets of the crypto world still face a structural problem:
There is no predictable, sustainable revenue model.
Although DeFi provides huge innovation, the vast majority of income sources are still:
