TermMax Daily Topic: On-Chain Finance, Moving from "Experiment" to "Structure" Looking back at the development of DeFi, it has actually gone through three stages: First Stage: Liquidity Experiment A large number of protocols attract funds through incentives, with returns coming from subsidies and inflation. Second Stage: Trading Markets Perpetual contracts, DEXs, and derivatives begin to mature, and the market gradually operates around price fluctuations. Third Stage: Financial Structure

🚨 Crude Oil Above $110: Is This the Start of a New Energy Supercycle? A Trader’s Perspective
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The global energy market has once again captured the attention of traders and investors worldwide. In a dramatic overnight rally, crude oil prices surged sharply, pushing WTI above $110 and Brent crude beyond $110, levels that immediately reignited discussions about supply shocks, geopolitical tensions, and the possibility of a longer-term energy bull market.
For many traders, this move was not just another headline—it was a moment that highlighted how quickl