Traditional finance is throwing a major wrench into DeFi lending dynamics. With US Treasury yields climbing well past 4%, investors now face a tough reality check. Why chase risky smart contract yields in crypto protocols when you can earn a safer return backed by the government? This risk-free rate hike puts massive pressure on decentralized platforms to boost their native incentives just to stay competitive, potentially shifting capital flows back to traditional safe havens. #DeFi #Macro #Yield