Is DeFi regaining its safe haven status? Structured returns become the focus.

The global economic situation has once again entered a turbulent phase, with escalating trade frictions between countries and automobile tariffs significantly raised to 125%. Although this scenario is not the first of its kind, this round of "upgraded" trade war has indeed made the global Capital Market feel intense pressure once again.

While risk-averse behavior is emerging in the stock, commodity, and bond markets, the cryptocurrency market's performance remains relatively stable. This phenomenon raises a thought-provoking question: In the current structural economic friction, is decentralized finance (DeFi) regaining its status as a "safe haven"?

Although I used to be reserved about this in the past, my views are gradually changing now. Here are some observations and thoughts:

The determinism of DeFi is enhanced by the loosening of tax policies.

In March of this year, the U.S. Senate passed a resolution that is very favorable to DeFi users, temporarily shelving the requirement for on-chain protocols to report user transaction information. Although this decision cannot be equated with "tax exemption," it undoubtedly provides a regulatory pressure environment that is less burdensome for on-chain transactions, helping users to rebuild confidence in on-chain asset allocation.

This policy change creates a "low-friction channel" for DeFi similar to traditional offshore markets, making it more attractive in the current economic environment.

Structured income has become the focus of market attention.

In the context of increasing market uncertainty, funds often seek investment paths that are "structurally certain", even if the yields are relatively low. This is precisely the reason why staking products have regained popularity. Users stake their assets on the mainnet to earn rewards at the protocol level. This model is logically clear, the path is predictable, and the volatility is relatively low.

Especially in certain ecosystems, staked tokens can also participate in other DeFi activities, such as lending or liquidity mining. This model retains staking rewards while not completely sacrificing liquidity, forming an on-chain investment logic similar to "structured finance."

On-chain transparency becomes a competitive advantage

In the context of unclear regulatory policies in the future, on-chain agreements that are well-documented and clearly structured may have more long-term viability than gray operations. While some projects with standardized paths may not be blockbuster hits, their transparency and traceability facilitate future compliance adjustments.

The combination of "structural + transparency" has become a competitive advantage at this stage, providing users with stability over time.

DeFi is evolving towards asset allocation systems.

The usage of DeFi is shifting from merely tool-based arbitrage to building a complete asset allocation system. Users can create an automated on-chain structured yield model through multiple steps such as staking, lending, and liquidity mining. This model is no longer a simple speculative behavior, but rather closer to actively managed portfolio assets.

From this perspective, DeFi is gradually shedding the impression of "high risk and high volatility" and moving towards more mature financial instruments.

An important opportunity to build on-chain structure

The current stage may not be the period of high profits for DeFi, but it is likely the most suitable time to build structured investment portfolios and accumulate positions before the next round of market upturn. For those investors who believe that macro uncertainties will persist, wish to balance risk and return, and expect to establish a complete on-chain income system in the future, now is a good time to start building an on-chain "structured income portfolio."

Although specific projects or tokens may not be the best choice, the investment paths and mechanisms they represent do have the characteristics of "explainable, composable, and iterable," which can become an important part of such structural experiments.

Although we cannot accurately predict the arrival of the next bull market cycle, building a reasonable investment structure from now on is undoubtedly a wise choice.