What is Real Yield?
Real yield refers to rewards generated from actual protocol revenue (fees, interest) rather than inflationary token emissions.
Real Yield vs Emission Yield
- Real yield: Sustainable, from fees
- Emission yield: Often unsustainable, dilutes holders
Real Yield Protocols
- GMX (ETH/AVAX from fees)
- Gains Network (DAI from fees)
- Pendle (fee sharing)