I know an old OG who lost five figure dollars on the bridge last year. Since then, whenever he heard the word 'cross chain', he developed PTSD. Until a few days ago, when he saw @ 0xSoulProtocol, he took the initiative to ask me for the first time, "Does this cross chain really not require a bridge I nodded and said, "Don't move assets, only move signals He fell silent for a moment and said, 'If we really want to succeed, DeFi's game should be rearranged.'. ” The siege lion also thinks that this idea is more meaningful than whose family's annualization is higher. Soul Protocol: The "unified ledger" for cross chain lending is quietly coming to the center of the stage. I have always felt that the most ironic aspect of DeFi in recent years is that the more "chains" there are, the more "fragmented" they become. Funds are divided into countless pieces and positions are distributed across different protocols, making users feel like they are playing multi line tasks and easily liquidate them. 2/And what Soul Protocol does, in other words, is to reassemble these fragments. It attempts to create a unified account layer for cross chain lending: Your assets are not cross chain, but your health can be calculated across chains; The clearing logic is uniformly executed at the Soul layer, no longer dispersed; The loan interest rate is automatically matched by the liquidity of the entire network, rather than local markets. Recently, the team announced the latest architectural progress, and modular design has become increasingly clear. The 'cross chain message layer' is responsible for synchronizing status, The 'risk control layer' manages positions and liquidation, The 'execution layer' schedules underlying protocols (Aave, Compound, etc.). This is more like a 'DeFi virtual machine' than a single lending protocol. The siege lions have noticed that they are now entering the final testing phase of the main network. Interestingly, the team did not rush to go live, but repeatedly polished the issue of "message delay and price synchronization". Because as long as there is a 1% delay error in cross chain messages, clearing may go wrong. This caution actually makes me feel reliable. At the market level, Soul's testing network has hundreds of thousands of users participating, and its financial activity is significantly higher than similar protocols. This indicates that users do have a genuine need for "cross chain one-stop lending", rather than just empty slogans. 6/The Siege Lion believes that the significance of Soul lies not in "another money market", but in the "unified accounting layer". What it needs to solve is not whether the returns are high or not, but whether DeFi lending can truly operate stably in a multi chain world. Once this layer is opened, it is like TCP/IP in the early days of the Internet - all mobility can be interconnected. However, on the other hand, risks still exist: Cross chain messages rely on external infrastructure (LayerZero, Wormhole, etc.), and security boundaries still need to be verified; Liquidation delays and lightning loan attacks may still pose potential threats; In addition, if the economic model of SO token is not designed properly, it may also weaken the stickiness of the protocol. 8/Therefore, Siege Lion suggests that when observing this project, do not only look at TVL or token trends, And we need to focus on three underlying indicators: ① The success rate and rollback mechanism of cross chain messages; ② Liquidation execution speed and discount rate; ③ Main network stability and module deployment pace. In my opinion, Soul Protocol has the opportunity to become the first successful sample of "cross chain credit layers". It is not meant to replace Aave, but to connect all lending protocols into an ecosystem. If the mainnet goes live smoothly, it will change the basic logic of DeFi lending. 10/Siege Lion's Last Words to Say—— The narrative of a bull market will always change, but the underlying consensus will not. Whoever can take the lead in achieving the ultimate in cross chain credit, clearing, and security has the opportunity to define the next decade of DeFi. Soul Protocol， Maybe it's that contestant.