Trustless systems still rely on assumptions hidden within smart contracts in evolving markets
One of DeFi’s biggest achievements was making yield visible in real time. The user experience makes it seem like the hard part is choosing the highest number. Most users stop at the number, but the real work starts when you ask what sits underneath it. The displayed number often creates a sense of certainty that the actual outcome does not deserve. What matters is not only what a strategy pays in theory, but what survives implementation. The source might be market-making fees, lending spreads...
Trustless systems still rely on assumptions hidden within smart contracts in evolving markets
One of DeFi’s biggest achievements was making yield visible in real time. The user experience makes it seem like the hard part is choosing the highest number. Most users stop at the number, but the real work starts when you ask what sits underneath it. The displayed number often creates a sense of certainty that the actual outcome does not deserve. What matters is not only what a strategy pays in theory, but what survives implementation. The source might be market-making fees, lending spreads...
