Lista's "Full-Stack" Pitfalls and Opportunities: Where are the Boundaries for Horizontal Expansion of DeFi Protocols? DeFi protocols, after reaching a certain stage of development, seem to suffer from "expansion anxiety." Starting from their core business, they continuously add new features, fearing they might miss any narrative. Lista DAO's expansion from a lending leader to RWA, stablecoin DEX, credit lending, and prediction markets is a typical example of a "full-stack" attempt. The opportunity lies in synergy: The stable returns generated by RWA can provide some underlying security for the credit lending pool; a unified interface can improve user experience and retain funds; prediction markets can increase user stickiness and entertainment value. The pitfall lies in dilution: Is the team's focus scattered? The complexity of protocol security audits increases exponentially. Each new area has strong, focused competitors (e.g., Ondo for RWA, PancakeSwap for DEX). Will users accept a brand that is "all-encompassing but not top-tier"? Lista's advantage lies in its large initial user assets (4.3 billion TVL) and extremely low borrowing rates (<2%), which are its hooks to attract users to try new features. But its challenge lies here: how to prevent existing users from leaving due to changes in risk, while simultaneously attracting new users to pay for innovation? My assessment: the key to success is not building all five pillars simultaneously, but rather whether it can create a synergistic effect (1+1>2) with the existing lending business through one or two new pillars (likely RWA and credit lending). Otherwise, it might just be a flashy PowerPoint presentation. @lista_dao #BestUSD1InvestmentStrategyListaDAO $LISTA