Yield Farming Grew Up

Yield farming matured from ponzinomics to actual financial infrastructure. The ridiculous APYs disappeared but sustainable yields remained. Grown-up DeFi.

The yields today come from real economic activity. Trading fees from actual volume. Borrowing interest from actual borrowers. Staking rewards from actual network security. Not just token inflation disguised as returns.

Yield aggregators got sophisticated. Auto-compounding, strategy optimization, gas efficiency. The complexity hidden behind simple deposit interfaces. Passive yield that actually works.

Risk became more transparent. Dashboards showing exact exposure, dependency chains, historical performance. Users can evaluate what they're getting into. Not just aping based on numbers.

Institutional yield products emerged. Structured products with defined risk parameters. Tranched offerings for different risk appetites. The sophistication level approaching traditional finance.

The yields are lower than 2020 but still beat traditional finance by multiples. And they're real. Sustainable. Generated by actual utility not circular token games. That's progress.