In the long history of DeFi development, few protocols dare to rewrite their underlying code when managing over 4 billion USD in assets. It's like an airplane in flight suddenly needing to change its engine—sounds crazy, but Lista DAO has deliberately done just that.

They plan to gradually migrate from the current MakerDAO fork model to Liquity's codebase. On the surface, this appears to be just a technical upgrade. But in reality, it involves a deeper transformation: moving from "human governance" to "code governance."

Many users may not care about these details and only focus on whether returns can be stable. But to understand how critical this move is, one must first grasp the core advantages of the Liquity model.

**Upgradable vs Immutable**

Currently, Lista DAO, like most DeFi protocols, is upgradable. This sounds flexible—if there's a bug, it can be fixed; if parameters are unreasonable, they can be adjusted. But the problem is, this also introduces risks. In theory, anyone holding the management keys or gaining control through governance attacks can modify contract parameters.

Once migrated to Liquity's architecture, the entire logic is reversed. Once the core smart contracts are deployed, they are permanently locked. No backdoors, no risk of admin private keys being stolen, no possibility of governance attacks. Sounds extreme? But this is precisely Liquity's design philosophy—pushing security to the utmost.

**From Financial Product to Public Infrastructure**

From another perspective, most DeFi protocols are still "managed financial products." The project team holds the rights to upgrade and adjust parameters, while users trust the chain downstream. But Lista DAO's migration is fundamentally about evolving from a "managed product" into a "decentralized public infrastructure" like Bitcoin—once rules are set, no one can change them.

What does this mean for DeFi users? It means your funds are no longer dependent on a team's decisions but are protected by immutable code. Risks become more predictable and transparent.

Of course, everything has a cost. Fully immutable systems also mean that bugs cannot be quickly patched once discovered. But Liquity minimizes this risk through rigorous code audits and minimalist contract design.

Lista DAO's move appears to be a technical migration, but in essence, it is a choice of direction: sacrificing flexibility for absolute security. In this still uncertain DeFi era, this choice is worth paying attention to.