Is WLFI repeating the mistakes of LUNA? ⚠️ The project team recently confirmed that they will use their native token WLFI as collateral for loans. Although it sounds quite ordinary on the surface, the core issue is: once facing liquidation risk, they might hedge by issuing more WLFI. This mechanism is highly prone to triggering a deadly "death spiral": a decline in token price causes collateral value to shrink, forcing the system to issue more tokens, which leads to severe inflation and selling pressure, further crashing the price. Currently, WLFI's market cap still reaches billions of dollars; once it collapses, its chain reaction will affect the entire crypto market $WLFI