If you spend enough time in DeFi, you'll notice that most conversations revolve around the same number: APY. Which protocol offers the highest yield? Which vault pays the best return? Which liquidity pool generates the most fees? Those are reasonable questions, but they overlook something far more important. How efficiently is your capital actually being used? Imagine two investors who each own 100 ETH. One earns a steady 7% annual yield through a lending protocol. The other earns a lower ret...