The One-Click DeFi Economy
The illusion of decentralization can mask fragile system dependencies. The industry must confront the illusion of trustless design. What factors determine whether a strategy can survive across different market cycles Once you get to that question, the whole picture starts to change. Most users see the visible rate first and assume it is close to what they will ultimately keep. By the time volatility and execution costs are fully counted, the yield can look very different from the original pro...
The One-Click DeFi Economy
The illusion of decentralization can mask fragile system dependencies. The industry must confront the illusion of trustless design. What factors determine whether a strategy can survive across different market cycles Once you get to that question, the whole picture starts to change. Most users see the visible rate first and assume it is close to what they will ultimately keep. By the time volatility and execution costs are fully counted, the yield can look very different from the original pro...
DeFi Doesn’t Remove Trust — It Engineers It
Reducing reliance on incentives improves long term stability of DeFi strategies Sooner or later, every serious participant has to ask where the return really comes from. The moment that question appears, the opportunity stops looking simple. What is advertised and what is realized are often separated by more friction than people expect. The displayed number often creates a sense of certainty that the actual outcome does not deserve. Once you include impermanent loss, gas, slippage, strategy m...
DeFi Doesn’t Remove Trust — It Engineers It
Reducing reliance on incentives improves long term stability of DeFi strategies Sooner or later, every serious participant has to ask where the return really comes from. The moment that question appears, the opportunity stops looking simple. What is advertised and what is realized are often separated by more friction than people expect. The displayed number often creates a sense of certainty that the actual outcome does not deserve. Once you include impermanent loss, gas, slippage, strategy m...
