At its core, participating in this type of open on-chain protocol is essentially conducting a global "hypothesis test."

What is that hypothesis? It is whether a credit and stablecoin system driven entirely by code rules, governed by the community, and based on over-collateralization mechanisms can be more efficient, more resilient to risks, and more inclusive than traditional finance.

Each participant is not only an active player in this experiment but also a data provider. It may sound a bit abstract, but when broken down, it becomes very concrete—

When you collateralize assets, you're testing whether the protocol's credit generation model is reliable; when you repay, you're testing whether the debt market can hold steady; during voting, you're experimenting with whether decentralized collective decision-making is truly wise. During periods of intense market volatility? That’s a stress test for the entire system, clearly laid out on the blockchain.

There are no closed laboratories for this experiment. All data is transparent and recorded on-chain, accessible to anyone. There’s no predetermined end point—its conclusions are written collectively through real economic activities, one transaction at a time.

Whether the protocol ultimately succeeds or fails is not just about the victory or loss of a project. More importantly—it will strongly confirm or deny that core hypothesis.

Therefore, holding tokens or using this protocol, in a deeper sense, is a vote of confidence in a new financial paradigm. You are not only managing your assets but also actively participating in shaping the potential future of the financial system. This gives the act of participation a meaning beyond mere economic returns—we are both spectators and creators.