# phuonghth

## Recent Posts

- [DeFi Doesn’t Remove Trust — It Engineers It](https://paragraph.com/@phuonghth/defi-doesnt-remove-trust-%E2%80%94-it-engineers-it): The Biggest Lie in DeFi Was Never the APY — It Was “Trustless”
- [What Makes a DeFi Strategy Actually Sustainable?](https://paragraph.com/@phuonghth/what-makes-a-defi-strategy-actually-sustainable)
- [If You Can’t Explain Yield, You Are the Yield](https://paragraph.com/@phuonghth/if-you-cant-explain-yield-you-are-the-yield): DeFi made yield look ridiculously easy.
- [How Do Concrete Vaults Actually Work?](https://paragraph.com/@phuonghth/how-do-concrete-vaults-actually-work)
- [Why DeFi Needs Vault Infrastructure](https://paragraph.com/@phuonghth/why-defi-needs-vault-infrastructure)
- [What Is Risk-Adjusted Yield and Why Does It Matter?](https://paragraph.com/@phuonghth/what-is-risk-adjusted-yield-and-why-does-it-matter): Risk-Adjusted Yield: The Metric DeFi Has Been Missing
- [Why APY Is the Most Misunderstood Metric in DeFi](https://paragraph.com/@phuonghth/why-apy-is-the-most-misunderstood-metric-in-defi): The Problem With Chasing APY in DeFi
- [Why Capital Efficiency Is the Real Production in DeFi](https://paragraph.com/@phuonghth/why-capital-efficiency-is-the-real-production-in-defi): APY Is Loud. Capital Efficiency Wins.

## Blog Information

- [Homepage](https://paragraph.com/@phuonghth/): Main blog page
- [RSS Feed](https://api.paragraph.com/blogs/rss/@phuonghth): Subscribe to updates

## Optional

- [All Posts](https://paragraph.com/@phuonghth/): Complete post archive
- [Sitemap](https://paragraph.com/@phuonghth/sitemap-index.xml): XML sitemap for crawlers