The next phase of DeFi is shifting toward measurable cash flows, capital efficiency, and integration with real economic activity. Tokenized real-world assets have already crossed tens of billions in value, with private credit and government […]
DeFi has spent the past few years rethinking a basic question: where does yield actually come from. In the earlier cycle, the answer was often internal. Protocols issued tokens, those tokens attracted liquidity, and the […]
“Real yield” stopped being a marketing slogan and became a category. In 2026, four distinct sources pay yield from external economic activity instead of token emissions: tokenized treasuries, on-chain private credit, protocol fee revenue, and […]
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