cryptonist

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DeFi

1 article

Fibre optic strands gathered into a bundle, their ends lit

Protocols rather than companies: lending markets, exchanges that run as code, staking and the yield that sits on top of all of it. These pieces explain where a return comes from and who is paying it, because in DeFi every yield has a counterparty even when no counterparty is named. Nothing here recommends a protocol, quotes a rate as achievable or ranks venues; the data section carries the figures, and these articles say how to read them. Where a mechanism has failed before, the failure is described rather than footnoted. Each figure a piece here quotes is dated and linked to its primary source, whether a contract, a protocol's own documentation or a court filing.

  • Where crypto yield comes from

    Staking, lending, liquidity provision, airdrops and points each pay for something different. Who pays, for what, and what can go wrong with each of them.