According to Cointelegraph, PANews reported on April 25th that Polygon Labs CEO Marc Boiron called for DeFi protocols to transform their liquidity management approach, stating that the current liquidity crisis is a "self-inflicted problem" for the industry. He proposed that sustainable DeFi should focus on on-chain native liquidity and transparent economic models, rather than relying on token issuance to provide ultra-high APY "opportunistic capital" cycles. Boiron criticized high APY strategies as merely "renting liquidity," which cannot cultivate user loyalty and may cause liquidity to suddenly disappear due to yield or token price fluctuations, damaging industry stability and hindering institutional entry. He suggested that protocols should shift towards fundamentals, attracting long-term liquidity through reasonable mechanisms, and cited Polygon's POL token as a blueprint—directly holding liquidity positions through protocol treasury, which may take time to accumulate but can avoid token value dilution and achieve long-term stability and capital efficiency.
Boiron is optimistic about the regulatory environment, expecting more institutional participation in the next 12 to 18 months. He envisions the DeFi ecosystem in 2026 as more stable, with improved governance and mature products connecting traditional finance with real-world assets. He emphasized that the POL token is a cornerstone of long-term growth, capable of reducing dependence on opportunistic capital and helping protocols focus on product innovation and user retention, rather than diluting tokens to maintain liquidity. His core point is clear: sustainable models will ultimately prevail, and the industry needs to abandon short-term speculation and embrace long-term value.
