1. Last year we introduced the coin inst, at that time the price was around $1, and recently it peaked at $7.

2. Inst belongs to the defi category, from avocado to fluid, inst has been quietly building during the bear market. The recent surge may be related to the functionality of fluid. Fluid is smart collateral and smart debt. Smart collateral allows users to deposit ETH and wstETH as collateral simultaneously, enabling them to earn trading fees while lending out assets. This dual functionality is similar to providing liquidity in a Uniswap pool, but with the added benefit of earning interest from both assets. Smart debt views debt as a productive asset rather than just a cost. When you take on debt in Fluid, it can generate trading fees to help offset your borrowing costs.

3. With the beginning of the Federal Reserve's interest rate cut cycle, defi yields have further surpassed U.S. Treasury yields, so defi still holds potential. #山寨季來了？ #defi