Traditional finance, such as public funds, involves buying a package of stocks with different weights after raising funds from the public. Some of these stocks perform well, while others do not, based on market expectations of these companies, earning returns from an investment portfolio. For on chain funds, taking the Ethereum based strategy as an example, the returns mainly come from LP transaction fees, lending rates, price differences for purchasing off anchor assets, airdrop point returns, etc. The underlying basis is the Lego style stacking and optimization of Defi protocol returns. Despite these differences, I feel that Defi has increasingly taken on some of the characteristics of traditional finance this year. Defi