Skepticism was my default reaction when I first saw Falcon talk about over-collateralization as a feature, not a compromise.
Most protocols try to hide excess collateral behind leverage narratives, but Falcon does the opposite—it puts inefficiency on display.
Instead, what looks like wasted capital slowly reveals itself as optionality preserved, not value destroyed.
Falcon treats liquidity like a long-term resource, not ammunition to be fired at short-term yield wars.
Watching the system operate felt less like trading and more like observing a balance sheet breathe.
Eventually, I realized the real innovation wasn’t USDf or liquidation resistance—it was redefining comfort for capital that hates being rushed.
