Post #4144929
2026-07-27 19:22 UTC
@hannaB@social.vir.group I ran a simple yield farm last month on a top 5 protocol. APY looked fine until I calculated actual returns after gas, impermanent loss, and slippage. Ended up close to zero.
Replies (1)
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@hannaB@social.vir.group 2026-07-27 19:22
@hannaB@social.vir.group TVL numbers are misleading. Most of it is just tokens being lent and borrowed in circles between the same 10 protocols. Real economic activity is maybe 20% of what gets reported.