Itโs not just Ellipsis struggling. All of DeFi is suffering through a leaner harvest season. Even our precious Curve rewards are down from ridiculous highs โ no more Euro pools above 50%, our friends across the pond have to suffer a measly 25%.
Maker also saw a down month, though still quite profitable.
The DeFi slump is spilling onto L2s.
You can run. You can hide. You can bury your assets deep into DeFi. But the ugly truth is you canโt escape inflation.
Should we end up in another multi-year slump, the returns of DeFi may suffer, but at least the prospects of higher yields will make the bear market bearable. Post crash 2017 was truly an insufferable pit.
Where to Find DeFi Yield
The most tried and true method of making yield in DeFi is to mastermind your own rug.
Aave is exploring some discomfiting ideas
You could even try hunting yields on your Bloomberg terminal.
Seeing the peculiar assemblage of tokens listed in this โDeFi Indexโ leads me to believe we still have a ways to go before people catch up with DeFiโฆ in other words, we are still so very early, friends.
Bankless surveyed the space recently to detail the dollar yields for Q3:
They highlighted Curve, which generates strong yield when you fully boost rewards. The existence of Convex really helps the space out by making these boosted rewards much more accessible for large whales. This in turn increases buying pressure on $CRV. #flywheel๐ฐ๐กย
Describing Curve nowadays really requires a full-length Medium post, but this intrepid analyst boldly attempted to compress it to a roughly 28,378 part Tweetstorm.
DeFi > TradFi
Whether or not the DeFi slump lasts a long time, the endgame is all but set in stone. Genuinely curious, can anybody articulate any possible gambit by which TradFi could defeat DeFi at this point? The only scenarios I can imagine are becoming increasingly outlandish.
For more info, check our live market data atย https://curvemarketcap.com/ย or our subscribe to our daily newsletter atย https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice. Author is a $CRV maximalist and therefore long $CVX.