Prologue – Market-Nature Does Not Care Nature is indifferent. It feels no pity, keeps no favourites and never interrupts the test it runs forever: is this design worth keeping? Financial markets obey the same law. Over time they delete brittle blue-prints, fragile architectures and risk-naïve strategies while compounding whatever works. DeFi is now entering the same sieve. After thousands of protocols and half a decade of live-fire testing, each “extinction event” looks less like a black swan...

Prologue – Market-Nature Does Not Care Nature is indifferent. It feels no pity, keeps no favourites and never interrupts the test it runs forever: is this design worth keeping? Financial markets obey the same law. Over time they delete brittle blue-prints, fragile architectures and risk-naïve strategies while compounding whatever works. DeFi is now entering the same sieve. After thousands of protocols and half a decade of live-fire testing, each “extinction event” looks less like a black swan...