Wu said that Dragonfly managing partner Haseeb stated that DeFi has experienced multiple shocks during events such as the Terra collapse, the failure of liquidation mechanisms in 2020, and the stETH de-pegging in 2022, but the related mechanisms are also being repeatedly refined and gradually improved. This process is similar to how traditional finance continuously evolves through various crises; he believes that current risks do not yet pose a systemic threat, and protocols like Aave have the capacity to absorb bad debt. The industry is continuously optimizing its structure through ongoing discussions and mechanism adjustments.