DeFi yield is no longer a single product. Stablecoin lending pays from one source, tokenized Treasuries from another, perpetual DEXes from a third, and production-linked protocols like Ayni Gold from a fourth. The category has […]
Production-linked yield isn’t new. Mining royalties, streaming finance deals, and infrastructure cash flow investments have been part of traditional finance for over a century. What’s new is on-chain: tokenizing that same kind of cash flow […]
Three years ago, anyone earning yield in DeFi was earning it from one of five sources: validator rewards, lending interest, DEX trading fees, perpetual DEX activity, or token incentives. Today, that list runs to fourteen […]
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