Every yield
Is someone else paying — identify who
Transparent, non-custodial, yours
Where DeFi yield comes from — and what it costs
Lending rates, liquidity provision, impermanent loss, liquidation, staking derivatives and APY versus APR. Honest mechanics, no promised returns.
Every yield
Is someone else paying — identify who
Visible on-chain
Rates, collateral, reserves, liquidation thresholds
Not visible
Governance risk, oracle failure, untested conditions
FBT Swap
What you should know
Yield in DeFi is always somebody paying for something: a borrower paying interest, a trader paying a pool fee, a protocol paying out its own token, or a validator being rewarded for securing a chain. If you cannot name the payer, you cannot judge the risk.
These pages trace each source back to its payer and name the way it can fail — liquidation, impermanent loss, a depeg, a smart-contract bug, or an incentive that simply stops. No page here promises a return and no figure shown in the app is guaranteed.
Every yield in decentralised finance is someone else paying. Borrowers pay interest, traders pay pool fees, protocols pay incentives from their own treasury. If you cannot identify who is paying and why, the correct assumption is that the yield is temporary, or that the payment is for risk you have not priced.
The arithmetic is visible on-chain, which is the genuine advantage here. The parts that are not visible — governance decisions, oracle behaviour under stress, what the contract does in conditions nobody has tested — are where losses actually occur.
At a glance
At a glance
Visible on-chain
Rates, collateral, reserves, liquidation thresholds
Not visible
Governance risk, oracle failure, untested conditions
FBT Swap
Runs no lending or pool contracts of its own
FAQ
Frequently asked questions
Clear answers before you decide.
Why are some advertised rates so high?
Almost always because they annualise a short measurement window, or because they are paid in a reward token whose price falls as farmers sell it. The day-one rate is rarely the week-four rate.
Does an audit mean a protocol is safe?
No. An audit covers specific code at a specific commit within an agreed scope. Many audited protocols have been exploited, usually through logic or economics the scope did not include.
Risk notice
Crypto assets are volatile and on-chain transactions cannot be reversed. You can lose money, including all of it. Nothing here is financial advice.