DeFi strategy providing liquidity to protocols for high APY rewards (often paid in platform tokens). 2020 DeFi Summer: 1000%+ APYs drove billions into Compound, Yearn, SushiSwap. Risks: impermanent loss, rug pulls, smart contract exploits, token price crashes. Math: 1000% APY in inflationary tokens = negative real returns when token dumps 95%. By 2023, realistic yields returned to 3-8% for blue chips.
Sources: Financial market data, cryptocurrency tracking, investment research
DeFi (Decentralized Finance) refers to blockchain-based financial services operating without banks or intermediaries
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