During that stretch, its base yield compressed from 9% to 4%.
Basically AUM exploded while yield dropped by more than half. So people weren't chasing yield. They were chasing composability.
One deposit could simultaneously earn lending yield, serve as collateral + back a leverage loop on other protocols. The yield was one component, not the reason.
Remember capital doesn't follow APR anymore. It follows utility.
Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé.Consultez les CG.
