Yield Looks Easy. It Isn’t.
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DeFi made earning yield feel simple.
You deposit funds, see a high APY, and watch returns grow. Everything looks smooth. But what’s missing is the why behind those returns.
Most yields shown are gross — not what you actually earn.
Once you factor in:
- Impermanent loss
- Fees and slippage
- Market volatility
Your real return can drop significantly.
So where does yield come from?
Trading fees, lending demand, liquidations, and incentives. Some are sustainable. Others disappear when rewards end.
If you don’t understand this, you may be the one funding the system.
That’s why outcomes differ. Some chase APY. Others calculate risk.
DeFi is shifting toward smarter strategies — yield engineering.
With tools like Concrete Vaults, users can automate strategies, manage risk, and focus on real returns.
Explore Concrete at app.concrete.xyz
Final thought:
Yield = Revenue − Cost − Risk
