Traditional DeFi collateralization is mostly locked within a single track: borrowing stablecoins requires staking mainstream tokens, yield farming involves拆仓 and switching positions, and capturing real-world cash flows requires starting from scratch. Falcon Finance abstracts this problem to the layer of "general collateral infrastructure": whether it's on-chain native tokens or tokenized real-world assets (RWA), both can be integrated into a unified collateral and risk control framework, generating tradable stable liquidity USDf. Its significance is not just about issuing another stablecoin but about creating a reusable production line for the chain of "asset→collateral→credit→liquidity→yield," allowing risk profiles of different assets to be integrated into the same system under the same rules. Over-collateralization ensures the system operates within a safety margin; parameters such as collateral ratio, discount factors, liquidation thresholds, insurance funds, and interest rate curves are transparent and adjustable. Collateral providers can access USD-priced leverage without selling their holdings, and funds can freely switch between DeFi-native scenarios and RWA return scenarios. USDf, as a stable liquidity, can be used for trading, market-making, staking, structured product issuance, or flowing back into real-world asset subscription pools, forming a closed loop of "on-chain—off-chain." More importantly, Falcon is not just a single application but aims to serve as a public foundational layer: allowing integrators to reuse its risk control slots, minting and redemption processes, liquidation and auction logic, parameter governance, and auditing interfaces, bringing fragmented liquidity and rules back onto a single dashboard. For participants seeking robust leverage, USDf offers a "no-sell" maneuvering space; for builders and institutions, the universal collateral means standardizing the introduction of new asset types and yield curves, bringing capital turnover and compliance disclosures into a verifiable track.