DeFi Doesn’t Remove Trust — It Engineers It
Most strategies fade because they rely heavily on unsustainable incentives models But the more visible the number becomes, the easier it is to forget to question it. A visible return is easy to admire, but much harder to evaluate without understanding the source. Once you get to that question, the whole picture starts to change. Gross return and net return can end up being meaningfully different once the full path of execution is taken into account. That is the difference between a visible re...
DeFi Doesn’t Remove Trust — It Engineers It
Most strategies fade because they rely heavily on unsustainable incentives models But the more visible the number becomes, the easier it is to forget to question it. A visible return is easy to admire, but much harder to evaluate without understanding the source. Once you get to that question, the whole picture starts to change. Gross return and net return can end up being meaningfully different once the full path of execution is taken into account. That is the difference between a visible re...
