When evaluating projects, I like to start with the questions they least want to answer. I don’t rely on complex frameworks like logical closure or user segmentation. Instead, I take a simpler, more practical approach.
For a project of Falcon Finance’s scale, the most important questions are often the uncomfortable ones. Marketing will always highlight growth, opportunity, and ecosystem—but the real risks are often overlooked.
Here are three critical questions I focus on:
What remains without high yields?
Many protocols exist mainly for high APRs. Without them, there’s often nothing meaningful left. Falcon Finance is trying to make USDf a functional unit, not just a store of value. If it attracts users who actually use USDf (not just chase yield), it could evolve into real infrastructure rather than a simple yield pool.
When should the system slow down?
This isn’t about cutting yields—it’s about resilience. Stressful periods like liquidation spikes, temporary strategy inefficiencies, or cross-chain issues require careful management. A project that can slow down, consolidate gains, and manage risk responsibly is more likely to survive long-term.
Is success replicable or just luck?
Anyone can perform well in favorable markets. The real test is whether results hold across different cycles. I focus on whether the system’s scale and cost structure are sustainable and whether it expands safely without ignoring risks. Expansion without learning from mistakes is dangerous.
I’m not giving a “buy or sell” verdict, but Falcon Finance appears to be moving in the right direction. It aims to be systemic rather than just a yield-generating product. The challenges it faces are real: the larger the scale, the smaller the margin for error. Long-term survival—not short-term emotion or gain—is the true measure.
If Falcon can:
Maintain USDf usage without relying on high APR
Slow down and consolidate during stress
Deliver consistent, verifiable results
…then it could be considered a project operating at the next level.
I write this not to seem calm, but because I refuse to blindly praise projects during good times while ignoring risks. @Falcon Finance #Falcon $FF
