In the DeFi sector, the operation pattern of the USD1 liquidity pool is basically the same—when the market is hot, chase LISTA to buy and aggressively expand the new issuance scale; once the market pulls back, panic and close positions to cut losses, ending up with a "buy high and sell low" outcome. After a year of such tossing, the annualized return is only around 35%-40%, and there's considerable psychological pressure.

But some industry insiders are different. Take investor Chen Mo as an example. Last year, he managed a USD1 liquidity pool worth $500,000 with impressive performance—even with the market experiencing a maximum correction of 12%, he still achieved an annualized return of 68.5%, with a maximum drawdown of only 2.1%. Why is there such a big difference? The key lies in his completely different operational approach.

Ordinary people "match their holdings to available rights," while Chen Mo does "use rights to anchor value." How exactly does he do it? He thoroughly explores the value of three types of rights: slisBNB, clisBNB, and LISTA—slisBNB acts as a safety cushion, providing the baseline returns for the capital pool; clisBNB is responsible for providing liquidity support, allowing funds to move freely; LISTA anchors the return ceiling through ecological governance weight. These three anchors work together to form an operational closed loop of "value symbiosis, risk hedging, and cycle adaptation."

The most impressive part of this system is its ability to self-regulate amid market fluctuations. It doesn't rely on frequent operations to chase excess returns but instead uses the stability of the rights combination itself to withstand cyclical shocks. This is the true way of DeFi operation.