Follow The Yield 🔍
Show me 8% APY and my first reaction isn't excitement anymore.
It's questions.
Where exactly did the 8% come from?
What collateral sits underneath it, how liquid is the exit, and what happens when market conditions change?
That's why I think curation becomes increasingly valuable as DeFi expands.
$PENDLE can turn future yield into an entire market of opportunities across different maturities and structures.
$AAVE adds another huge universe of lending rates, collateral and borrowing demand.
More infrastructure means more choices.
But more choices also make capital allocation harder.
I don't think the winning portfolio is simply going to chase whichever protocol displays the biggest number that morning.
Someone still needs to compare risk, duration, liquidity and expected return.
That's the curator thesis I keep coming back to.
The opportunity isn't finding yield anymore.
It's separating useful yield from expensive risk.
#Altcoin Season#
Show me 8% APY and my first reaction isn't excitement anymore.
It's questions.
Where exactly did the 8% come from?
What collateral sits underneath it, how liquid is the exit, and what happens when market conditions change?
That's why I think curation becomes increasingly valuable as DeFi expands.
$PENDLE can turn future yield into an entire market of opportunities across different maturities and structures.
$AAVE adds another huge universe of lending rates, collateral and borrowing demand.
More infrastructure means more choices.
But more choices also make capital allocation harder.
I don't think the winning portfolio is simply going to chase whichever protocol displays the biggest number that morning.
Someone still needs to compare risk, duration, liquidity and expected return.
That's the curator thesis I keep coming back to.
The opportunity isn't finding yield anymore.
It's separating useful yield from expensive risk.
#Altcoin Season#
