Yield in DeFi has come a long way.
We used to pay a 5% deposit fee to farm 50,000% APR for a few hours (paid largely in hyperinflationary fruit).
Now we're financing state tax credit receivables for the entertainment industry.
Anywho, a quick look at the RWA financing meta:
@kamino's kicUSDC finances institutional copper trading
@HastraFi finances (and warehouses) Auto loans and Helocs.
@onre and
@re finance the underwriting of reinsurance
@blackopal_fi finances Brazilian credit recievables
@forestroadvault finances entertainment tax credit recievables
@dawninternet finances developing ISP infrastructure
@AxisFDN finances CEX/CEX arbitrage
I can't tell if we've matured, or if we've just uncovered the degen side of tradfi in our insatiable thirst for APRs.