Please, God, no more “DeFi yield” protocols juicing pathetic APYs on stables by handing you monopoly money in the form of their own token. @0xfluid @KaminoFinance and all the other copycats run the same tired playbook: The honest ones? Market base rate, with their token as a little “thanks for playing” bonus. The bad ones? Below-market APY, subsidized with a token no one wants or needs. What happens next? You dump it, insiders dump it, and the chart looks like a ski slope to hell. This isn’t yield. It’s robbery with a glossy dashboard. And notice how it’s always hidden - hover-only breakdowns that don’t even work on mobile, where most people play. That’s not transparency, that’s hoping users aren’t sharp enough to catch the trick. If these teams are such poor money managers they can’t even produce a market APY, why would anyone trust them with capital in the first place? Stop pretending your token emissions are yield. This is the same reason most DePin projects bleed out (looking at you @DIMO_Network). When the only way you “compensate” customers is by flooding them with your own token, don’t be shocked when the first thing they do is sell it. Real yield = sustainable APY backed by real cash flow. Fake yield = bribing users with emissions they never asked for Protocols like @0xfluid and @KaminoFinance aren’t competing with @aave, @DeFiCarrot, @hyperlendx or others who actually build sustainable systems. They’re competing for consumer ignorance. And the only ones who win that game? Not the users. 🫡 From the depths — The White Whale 🐋