Recently, I have been repeatedly thinking about one thing: DeFi may not be suitable for long-term funds in trading, but rather in the yield itself. Price, leverage, and liquidation are things that everyone is already quite familiar with, but the question of whether 'yields can be extracted and amplified' has actually not been seriously addressed. This is also why I have recently started paying attention to RateX. It is not the traditional leveraged DEX, but rather directly extracts yields as assets to play with. On Solana, through a yield certificate called YT, one can implement yield strategies with up to 10 times leverage, and the mechanism does not rely on liquidation lines, which makes the risk structure much more comfortable. Interestingly, this is not just a fantasy. Cumulative transactions have approached 1 billion USD, with TVL peaking over 100 million. $RTX has also completed a pricing round after TGE, and the community's size is quite active in this small sector, at least indicating that there are indeed many users. Looking at its design, it is actually quite 'traditional finance.' The team's background leans towards investment banking and funds, and they are very familiar with structured products, yield splitting, and risk pricing, just with an on-chain version. It's no wonder they can gain support from large institutions like Crypto.com. Personally, I am more concerned about what it can do in the future. Once bonds and real estate (RWA) really start to move on-chain, the key questions will be: How to split yields? How to amplify them? How to create liquidity? The RateX model is precisely prepared for this scenario. To put it simply: it is more like a foundational tool for structured yields, rather than being focused on trading. If you also believe that DeFi will gradually align with traditional finance, then RateX is at least worth adding to your watchlist.