Most DeFi vaults that offer decent yield are hiding something in the collateral, usually something you only find out about when it's too late. @lista_dao's ETH vaults are different and the reason is boring in the best possible way, everything is backed by ETH and nothing else. No governance tokens, no wrappers, no fragile LSD exposure, just ETH: liquid, monitored, and the one DeFi asset everyone actually understands. That simplicity is what makes the yield interesting rather than suspicious, when you know exactly what's backing the vault you can actually sleep at night. Binance Labs backed, $2b TVL, with 19-25% utilization, healthy yield from real borrow demand, not maxed-out vaults, and backed by a solid liquidity buffer. Numbers come out to around 8-9% on stablecoins depending on which vault, with negative borrow rates on top if you want to run the full strategy. It's not the most exciting thing in DeFi right now, but clean collateral and real yield in the same place is harder to find than people think. Psst... I'm already in :>