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DeFi Protocol Mechanics, Decoded
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LATEST
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Daniel Wu

Mechanism reductionist — believes every DeFi problem can be traced back to fundamental protocol design tradeoffs

Follows protocol mechanics and liquidity dynamics across major DeFi ecosystems. Believes every complex system has a simple explanation waiting to be found.

Articles

fundamentals

Nobody Actually Lends You Anything: How Collateralized Debt Positions Mint Stablecoins Out of Your Own Assets

August 29, 2026
fundamentals

Deciding Whether to Borrow Based on the Interest Rate Alone Might Mean You Missed an Entire Cost: How to Calculate Your Real Total Borrowing Cost

July 29, 2026
fundamentals

How Much of This Token 'Hasn't Been Released Yet' Matters More Than How Much It's Up Right Now

July 26, 2026
fundamentals

Why Does the Interest Rate on Your DeFi Deposit Change Every Minute?

July 25, 2026
beginners

Opening a DeFi Dashboard for the First Time: Which Numbers Should Beginners Look At First

July 24, 2026
beginners

What Is DeFi? Understanding Decentralized Finance Through One Simple Question

July 23, 2026