Many people have encountered this dilemma on the chain: they are reluctant to move assets they believe in, but also want some liquid funds that can be used at any time. When opportunities arise, they want to act; when risks approach, they want to avoid; or they want to reallocate to other tokens. But once they sell, they fear missing out… This tug-of-war is truly tormenting.

Is there a way to keep assets in hand while releasing their liquidity? A new emerging on-chain protocol seems to be solving this problem. Its logic is straightforward: you don't need to sell your tokens, nor do you need to make complicated promises. Instead, it offers a third way — enabling your assets to generate liquidity.

The core mechanism is collateralization. The system does not print tokens out of thin air; only when users provide real value assets does it mint a stablecoin pegged to the dollar (USDf). Users deposit assets, the system locks these assets, and users gain the right to mint. There are no empty promises here; each unit is backed by real assets.

The system supports multiple types of collateral, which is crucial. Whether you hold stablecoins, volatile tokens, or even future physical asset tokens, they can all be integrated through a universal collateral framework. This reduces friction from relying on a single pathway and gives users greater flexibility.

Over-collateralization is the system’s safety moat. Simply put: when minting USDf, the total value of the assets locked by the system always exceeds the value of USDf. This excess acts as a risk buffer — when market volatility occurs, it becomes a protective mechanism. This design allows the entire system to remain stable even in extreme market conditions.