PANews reported on April 25 that according to Cointelegraph, Marc Boiron, CEO of Polygon Labs, called on DeFi protocols to change their liquidity management methods, saying that the current liquidity crisis is the industry's "self-inflicted bitter fruit". He proposed that sustainable DeFi needs to focus on on-chain liquidity and transparent economic models, rather than relying on the "profit-seeking capital" cycle of token issuance to provide ultra-high APY. Boiron criticized the high APY strategy as just "renting liquidity" and failing to cultivate user loyalty, and that yield or token price fluctuations would lead to a sudden loss of liquidity, undermining industry stability and hindering institutional entry. He suggested that the protocol turn to fundamentals and attract long-term liquidity with a reasonable mechanism, and cited Polygon's POL token as a blueprint - directly holding liquidity positions through the protocol vault, although it takes time to accumulate, can avoid token value dilution and achieve long-term stability and capital efficiency.
Boiron is optimistic about the regulatory environment and expects more institutions to participate within 12 to 18 months. He envisions that by 2026, the DeFi ecosystem will be more stable, governance will be better, and mature products connecting traditional finance and physical assets will emerge. He emphasized that POL tokens are the cornerstone of long-term growth, which can reduce dependence on profit-seeking capital and help protocols focus on product innovation and user retention, rather than diluting tokens to maintain liquidity. His core point is clear: sustainable models will eventually win, and the industry needs to abandon short-term speculation and embrace long-term value.
