JustLend DAO recently made dynamic adjustments to the APY for USDD deposit mining. Many people are paying attention to this change, but I believe it’s more than just a simple interest rate fluctuation.

In fact, this is part of an ecosystem-level strategy. First, to control incentive costs and avoid unsustainable high yields that could deplete future sustainability; second, to filter genuine users and retain those with real liquidity needs; third, to maintain long-term stability of the liquidity structure.

For participants committed to the USDD ecosystem and adopting a prudent strategy, these adjustments actually indicate ecosystem growth. Moving from an aggressive subsidy phase to a rational operational phase is a sign of maturity, not a negative signal. The real issue stems from uncontrollable incentive mechanisms, not moderate adjustments.