Reputation, Risk, and the New Backbone of Decentralized Finance: Symbiotic’s OperatorsIn the rapidly evolving DeFi landscape, collateral crises are rarely isolated. What begins as one asset’s collapse or one protocol’s over-leverage can ripple outward, stressing validators, node operators, vaults, and ultimately users. To stem such contagions, projects must design systems that not only handle collateral efficiently but do so in ways that align incentives, enforce consequences, and make reputa...