Where Yield Really Comes From

This lesson is for enrolled learners

The concept Every "APY" number in DeFi is a single figure hiding a mix of sources with very different durability, and the single highest-leverage due-diligence skill in this course is decomposing that number before trusting it. There are four broad sources: trading fees (from AMM swap activity, as in Module 1 — durable as long as volume continues, scales with……

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