The design logic of credit limits is worth a detailed study. Real-time cash flow data combined with replayable model states make portfolio gains and losses clear at a glance, allowing lenders and auditing agencies to immediately grasp protocol risks. This is the foundation of trust. Next comes the application of perpetual contracts — but the prerequisite is that the signal liquidity keeps pace, and finally, the auction mechanism is introduced. This progressive product design reflects new ideas in DeFi for risk control and transparency.