Trong nhiều năm, DeFi cạnh tranh bằng APY. Nhưng sản phẩm thực sự là capital efficiency. The IllusionProtocols compete on yield. Users chase the highest number. Yet the highest APY is rarely the most efficient use of capital. Capital EfficiencyContinuous capital deployment- Risk-adjusted yield- Automated compounding- Minimal idle liquidity- Reduced opportunity costWhy Most DeFi Is InefficientIdle funds, emission farming, gas drag, and manual repositioning reduce true capital efficiency. Concr...

Trong nhiều năm, DeFi cạnh tranh bằng APY. Nhưng sản phẩm thực sự là capital efficiency. The IllusionProtocols compete on yield. Users chase the highest number. Yet the highest APY is rarely the most efficient use of capital. Capital EfficiencyContinuous capital deployment- Risk-adjusted yield- Automated compounding- Minimal idle liquidity- Reduced opportunity costWhy Most DeFi Is InefficientIdle funds, emission farming, gas drag, and manual repositioning reduce true capital efficiency. Concr...