🟩 Step by step disassembly of Cygnus @ CygnusFi: Why is this full chain lending protocol called the "global ATM machine of DeFi"?When I saw the Cygnus project on Twitter, my first reaction was: Is DeFi lending all rolled up like this now? But after reading the white paper and on chain data, I hit my thigh straight - this thing may really be a tool for slackers to leverage and make a profit. After checking the team background, the core developer is a Canadian Chinese team who has previously worked on traditional financial quantitative trading. The CTO has worked on smart contract development at Chainlink for two years. Although there was no grand platform, the audit approached Certik and Hacken, and the contract was already running on Arbitrarum. TVL worked for 20 million dollars in two weeks, indicating that the community voted with their feet. 🟩 1、 Experienced driver of full chain lending, specializing in a "anywhere you can play" service Simply put, you can deposit AVAX in Avalanche and directly borrow stablecoins from BSC (you can also choose USDT/USDC/DAI). Full chain interoperability sounds mysterious, and in human terms, it means "withdrawing funds on the chain that has a wallet", much like an ATM machine at your doorstep (or a 24-hour cross-border free transaction fee). 🟩 2、 Is the technical foundation strong enough? • Use LayerZero's OFT cross chain standard at the bottom layer (other companies are still playing the standalone version, which is directly archived in the cloud) • Original three piece set: loan pool+cross chain bridge+machine gun pool (automatic compound interest yield 2-3 points higher than the neighboring curve) Clearing mechanism manipulation: triggered only when the collateral ratio is below 110% (more resistant to fluctuations compared to AAVE's 150%) 🟩 3、 How to play with tokens? (Knock on the blackboard!) Checked their token allocation table: Team lock up for 2 years, linear release per month (anti rug pull) 65% of the profits are directly distributed to LPs and stakers (truly worker friendly) Destruction mechanism: Buy CYG for 30% of each loan interest to destroy (deflation is even more severe than BNB) The total amount of CYG tokens is 100 million, 70% of which are used for liquidity mining, and the team only accounts for 15%, with a two-year lock up. The most impressive feature is the staking mechanism: depositing CYG can earn 75% of the platform's revenue, but withdrawal takes 30 days. This trick not only prevents scientists from taking advantage of it, but also helps to attract real users, which is much stronger than those local dogs who peak at the beginning of the market. 🟩 4、 Data speaks for itself Grab their dashboard: TVL skyrocketed from $12 million to $86 million in three months (growth rate outperforms AAVE during the same period) The average liquidation rate is 0.37% (industry average of 1.2%) Stablecoin APY remains stable at 8-15% throughout the year (high interest rates in bear markets) 🟩 5、 Risk Reminder (Time for Traditional Chinese Medicine Pulse Checking) Cross chain Bridge Security: Although LayerZero is used, it is not absolutely black proof after all Risk of stablecoin decoupling: collateral concentrated in a few currencies Team anonymous development (be cautious if you mind) Summary: This project is like the "Swiss Army Knife" of the crypto world - it has multiple functions but requires craftsmanship. Suitable for three types of people: Cross chain brick moving party (gas saving artifact) • Leveraged betting dog (low liquidation line suitable for aggressive operations) Buddha style tenant acquisition (enjoying stable interest) 🟩 Finally, a personal statement: Cygnus is a new species in the DeFi 3.0 era, playing with traditional leverage arbitrage in a lossless new way. Although the current popularity is not high, there is indeed something about mechanism design. It is suggested that the old iron workers test the water with small amount first and focus on TVL growth and cross chain progress. After all, in the currency circle, they eat meat first and drink soup later.