For the past decade, whenever DeFi is mentioned, there has always been a "set of unwritten rules consensus" in the community—on-chain finance is a high-risk testing ground that will never mature, and it cannot be compared to the traditional finance world at all. You must have heard this kind of rhetoric countless times:

"DeFi is essentially a laboratory project."
"On-chain cannot establish a real credit system."
"Stablecoins ultimately have to compromise on centralization or semi-centralization."
"Complex asset operations can only be performed off-chain."

These statements are not wrong, the problem lies in the fact that the entire industry has always lacked a crucial element: structure. Without structure, finance can only be an experiment; without a system, credit can only be fragile; without risk control, the market can only rely on luck. This is not an issue with the blockchain technology itself, but rather that DeFi has never established a system to handle the connections between assets, the transmission of risks, and the stratification of returns—those capabilities that traditional finance has honed over decades are missing corresponding models on-chain.

Until Falcon appeared. At that moment, I thought, maybe the label "experimental stage" really needs to disappear from the on-chain finance historical record.

To truly bid farewell to the experimental era, we must start from a structure that can accommodate complexity. It is not about a single isolated function or tool, but a complete set of system designs that can handle relationships, coupling, and layering. This is exactly what the industry has been waiting for.