Crypto Long & Short: Where DeFi yield really comes from (and why it broke this spring)

Source Summary

David Plisek of Solstice Finance argues that most losses in DeFi during spring were not caused by hacker theft but by yield strategies that ceased functioning. Analyzing April's $13 billion drawdown, Plisek demonstrates that headline yield figures provide little insight into whether returns will persist under market stress, and outlines four questions allocators should consider before deploying capital.