Recently, the international situation has been quite complex. Tensions are high in the Middle East and Eastern Europe, with energy prices fluctuating constantly; the Federal Reserve is caught between raising and cutting interest rates, and the European Central Bank is also busy; global supply chains are being reshuffled, and trade patterns are quietly changing. At first glance, these seem like separate events, but they all point to the same underlying trend: the collapse of the past forty years' financial and trade system built on globalization—characterized by "cheap, efficient, and centralized." We are entering a new era—a stage marked by higher costs, greater emphasis on risk mitigation, and the coexistence of multiple power centers.

What does this mean? Global assets are facing the most complex re-pricing in history. Traditional assets like stocks, bonds, and real estate tend to move together during crises, with correlations breaking down. And what about cryptocurrencies? They lack government backing, can flow globally, and are programmable. Gradually, they are transforming from purely speculative assets into "risk hedging tools" and "alternative asset pools" in the eyes of some capital.

However, there is an ironic aspect. Considering cryptocurrencies as "safe havens" sounds appealing, but there is a fundamental conflict: the high volatility of crypto assets versus the stability expected of "safe assets"—these two are inherently opposed. It is precisely because of this contradiction that protocols like ListaDAO and other LSDFi projects have opportunities—they specialize in this area, extracting stable returns amid volatility, allowing you to participate in the crypto ecosystem while also earning relatively stable asset returns.