@Lorenzo Protocol l#LorenzoProtocol $BANK Lorenzo's cleverness lies in positioning itself as a financing layer for Bitcoin liquidity, deeply integrating with Babylon to tap into the core narrative of Bitcoin yield. Theoretically, this strategy is significant, capable of mobilizing hundreds of billions of dollars in idle Bitcoin assets. However, this deep integration is also a double-edged sword. I noticed a detail that in the initial design of its Staking Agents mechanism, although it claims to be composed of a group of reputable institutions, currently, Lorenzo itself is the only Staking Agent. This means that in the early stages, the risk of centralization is objectively present. If the future development of the Babylon ecosystem does not meet expectations, or if the overall yield of Bitcoin staking declines, will Lorenzo, which heavily relies on this path, face significant impacts? Its value capture ability, as it stands, is closely tied to the Babylon ecosystem; when one thrives, all thrive, and when one suffers, all suffer.