It Doesn't Pick a Side 👀 Most protocols want you locked into their own ecosystem specifically, that's usually the entire business model. Theoriq's vaults don't work that way at all. $ONDO knows this story well, its own growth depended on multiple venues choosing to list and support it rather than one gatekeeper controlling access. Capital here moves across Aave, Morpho, Euler, and Pendle, whichever combination offers the best risk adjusted opportunity at that moment. Being neutral means losing the easy narrative of exclusive partnership, that trade-off is obvious from the outside. What it gains instead is the ability to actually move when one venue gets worse and another gets better. $INJ gets this too, an entire reputation built on neutral execution across markets instead of favoring a single side. Theoriq applies a similar instinct to lending and yield venues specifically, treating them as options to route through rather than partners to protect. That flexibility is a genuinely underrated form of moat in this space, and I don't think enough people give it credit. Exclusivity photographs well for a press release, optionality just quietly performs better over time. #Altcoin Season#