4/ Network effects can be powerful in creating a defensible moat for a DeFi protocol.
The idea is that more liquidity attracts more users, who deposit more liquidity, which attracts more users, and so on—creating a virtuous cycle of growth and lasting network effects.
4/网络效应在为DeFi协议创建防御护城河方面非常强大。
其理念是，更多的流动性吸引更多的用户，他们存入更多的流动性，从而吸引更多的用户，从而创造出增长的良性循环和持久的网络效应。