I've been watching Huma for a while, let me report to everyone 1. This protocol is very similar to P2P in earlier years. Both retail investors and institutions can invest money, and then the protocol lends the money to those who need it more. The interest collected is the apy of your savings 2. From the perspective of empowering Circle, it is the Beggar's version of Anchor for UST, which aims to store and generate profits for USTC. It is a rare business product that can expand the USTC channel 3. In theory, it can benefit from the growth of stablecoins in cross-border payments, and the current growth rate is also similar to the growth rate of USDC in payments 4. The team seems to be relatively approachable, and they are also delivering after issuing coins. The business can make money, and it seems that they also want to engage in a buyback and dividend system 5. The publicly available data from Dunne looks decent, with a steep business growth curve and an annualized revenue of over 10m, but I'm not sure if this is retained or if it includes the entire LP. Based on the analysis of GPT, I tend to believe that it refers to the estimated annual revenue. https://(dune.com)/huma-finance/huma-overview But the points of doubt are 1. Stablecoins for cross-border payments on the B-side may be a false proposition, for example, USTC's payment business only accounts for less than 1% of revenue, let alone Teda 2. The problem with P2P is that in the early days, the idea was beautiful, but in the future, there were fewer people who needed to borrow high interest money and more people who wanted to save high interest money. Therefore, in the later stages, it was all fake business, using new deposits to repay old interest. So I'm worried that there will be so many asset packages released by Huma in the future, after all, who doesn't like the 10.5 APY In summary, a more prudent approach is to focus on data, identify new sources of asset packages, and invest in fundamental aspects Either just lie down and wait, there may be speculation about the payment function of stablecoins in the future, and Huma will welcome its own trend