When analyzing a DeFi protocol, it is not enough to simply look at the token performance; instead, it should be understood as a microcosm of the platform's usage scale. What are the key dimensions to track? First is the growth rate of trading volume, secondly, how much fee income the protocol itself generates, and finally—and most importantly—whether the team is continuously reinvesting this income back into the ecosystem to further drive growth. The interplay of these indicators can truly reflect the health and sustainability of a DeFi project.