DeFi made yield feel more transparent, at least at first glance. Real activity based yield tends to be more stable over time But the simplicity of the display often hides the complexity of the system. What looks generous on the dashboard can feel much thinner after the full set of trade-offs shows up. One reason this matters is that displayed yield and realized yield are often very different things. This is the part many users do not discover until after they have already entered. Some strate...
