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What is Defi Real Yield (DRY)?

Real yield is a new trend in decentralized finance (DeFi) that is generating a lot of discussion and debate. DeFi protocols offer yields in major cryptocurrencies like Bitcoin or Ethereum or in stablecoins like USDC or BUSD. The funds are generated from the actual revenue of the protocol and staking or locking the governance token is the way to earn these yields.
Real yield is similar to a stock dividend. Investors invest money in a DeFi protocol and receive a small share of the revenue generated by the protocol. The difference between real yield and what has happened in the DeFi world until now is that the "real" part. In the past, yields were paid out by DeFi protocols, but they were often generated through unsustainable token emissions. When the market crashed in 2021, many token values decreased and the yields disappeared. Additionally, users were quick to switch from one project to another, which left the DeFi landscape in a state of disrepair after the bear market.
There are concerns about the real yield trend, including the fact that it may not be a comprehensive indicator of a protocol's health, and it may not be sustainable for start-ups to pay high yields. Examples of protocols offering real yield include Synthetix, GMX, and Dopex.