Great article! The money in DeFi is too 'restless,' too focused on liquidity and composability. It’s more like a short-term cash management tool rather than a long-term credit tool. That’s why fixed-rate lending is naturally at a structural disadvantage in this environment, unless participant behavior or market structure undergoes a complete transformation. However, the introduction of RWA brings new opportunities to DeFi: Because real-world credit inherently requires fixed terms and predictable repayments, participants resemble those in traditional credit markets.