The Rise of Real Yield Protocols, ushering in the 2.0 Era of DeFi
As the speculative frenzy subsides, Real Yield protocols that provide stable cash flow are becoming the new favorites in the market. Data shows that protocols like Pendle and Ethena have seen a monthly TVL growth of over 50%, with users able to earn an annualized yield of 10-20% through staking. The innovations of such projects include: 1) directly distributing protocol income to token holders; 2) developing stablecoin hedge strategies; 3) adopting sustainable token economic models. Unlike traditional DeFi mining, real yield projects place greater emphasis on fundamental value and may lead the next wave of DeFi innovation.