The Evolution of Yield in DeFi
When decentralized finance first emerged, yield was the main attraction. The ability to deposit assets and earn returns directly on-chain felt revolutionary. Protocols competed by offering increasingly higher APYs, and users quickly learned to compare opportunities based on that single number. In many ways, this phase helped DeFi grow rapidly. High yields brought attention, liquidity, and experimentation across the ecosystem. But as the industry matures, the meaning of yield in DeFi is beginn...
The Evolution of Yield in DeFi
When decentralized finance first emerged, yield was the main attraction. The ability to deposit assets and earn returns directly on-chain felt revolutionary. Protocols competed by offering increasingly higher APYs, and users quickly learned to compare opportunities based on that single number. In many ways, this phase helped DeFi grow rapidly. High yields brought attention, liquidity, and experimentation across the ecosystem. But as the industry matures, the meaning of yield in DeFi is beginn...
