Utilization rate is severely underestimated. Most people only focus on APY but overlook a metric that better reflects the true health of a DeFi protocol—utilization rate. This number directly indicates how much capital is actually flowing in the lending market. Taking Folks Finance as an example, its utilization data clearly demonstrates the protocol's capital efficiency. When utilization is too low, it indicates liquidity is being wasted; when utilization is too high, it suggests risk is accumulating. To determine whether a DeFi project is reliable, instead of obsessing over high or low yields, it's better to look at its utilization rate—this is the real barometer.