> For the complete documentation index, see [llms.txt](https://docs.rwa.vip/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.rwa.vip/vi.-rwa-ecosystem-ecosystem-construction-plan/the-upgrades-and-innovations-of-defi-2.0.md).

# The Upgrades and Innovations of DeFi 2.0

#### <mark style="color:blue;">Treasury Mechanism:</mark>&#x20;

Through the protocol-owned liquidity (POL), liquidity no longer depends on external funds. The protocol's own liquidity can be held and managed long-term by the treasury.

#### <mark style="color:blue;">Bond Mechanism:</mark>&#x20;

Bonds change everything. Through the bond mechanism, the protocol itself can exchange its native tokens for assets. Instead of renting liquidity from third parties, it directly purchases liquidity. Once the bonds are established, the protocol owns the assets and allocates new token supply accordingly.

#### <mark style="color:blue;">Efficient Capital Utilization:</mark>&#x20;

The introduction of dual liquidity utilization and efficient lending allows assets to be used not only as collateral for loans but also in other protocols, enhancing capital efficiency.

#### <mark style="color:blue;">Internal Liquidity Management:</mark>&#x20;

No longer reliant on external liquidity mining, liquidity is managed through DAO voting governance mechanisms and treasury management. This returns control and profit rights to the community.


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