DeFi made returns feel easier to read, compare, and react to. The combination creates a more complete security model. But interface transparency is not the same as economic transparency. The gap between visible return and actual retained return is where many strategies become less attractive. The number shown on a dashboard is usually only the beginning of the story. Impermanent loss, rebalancing costs, execution friction, slippage, volatility, and timing all affect what the user actually kee...