Low-cost lending truly opens up opportunities for users not just through "cheap interest," but by turning strategies that are mathematically infeasible into feasible ones.

On the surface, some lending protocols sell two points: the highest on-chain efficiency and ultra-low borrowing rates. But that's just the appearance. For practitioners, the real value lies here—when interest rates are low enough, you dare to amplify your returns.

Take blue-chip assets like BTCB, ETH, BNB. If you collateralize these assets to borrow stablecoins at a rate of 1% to 2%, you then have the confidence to pursue strategies with 10% to 20% returns. Conversely, if borrowing itself costs 8% to 10%, many strategies become meaningless from the start. It doesn't add up mathematically, and the risk doesn't justify the reward.

In reality, low interest rates open up three paths:

**Conservative route**, for those seeking peace of mind. Borrowing at 1% with external yields of 10% results in a net margin of 7% to 8%. It may not seem like much, but the risk is relatively manageable, suitable for long-term stable growth.

**Strategic route**, for those playing with combinations. You can cycle, re-mortgage, and layer within reasonable bounds, as long as each layer maintains a spread. The overall compounded return of the portfolio can then be self-consistent. This is a paradise for technical players.

**Long-term route**, for those with large positions. Treat blue-chip holdings as a "credit engine," generating stablecoin cash flow without selling your assets. This cash flow can hedge living expenses or be reinvested. Essentially, making your assets work for you while maintaining your original holdings.

So, the true meaning of "low-cost lending" is not just about cheap rates, but enabling more strategies to be mathematically feasible and risk-manageable. That’s where the real difference lies.