The Evolution of Yield in DeFi
In the early days of decentralized finance, yield was the main attraction. New protocols competed aggressively by offering extremely high APY to attract liquidity. For many users, the strategy was simple: find the highest number and move capital there. But as the DeFi ecosystem has grown, the understanding of yield has also evolved. Today, the conversation is gradually shifting from how high the yield is to how sustainable the yield can be.The Early Phase: Incentive-Driven YieldDuring the fir...
The Evolution of Yield in DeFi
In the early days of decentralized finance, yield was the main attraction. New protocols competed aggressively by offering extremely high APY to attract liquidity. For many users, the strategy was simple: find the highest number and move capital there. But as the DeFi ecosystem has grown, the understanding of yield has also evolved. Today, the conversation is gradually shifting from how high the yield is to how sustainable the yield can be.The Early Phase: Incentive-Driven YieldDuring the fir...
