CASE-05 · 12 min
Two pools, the same number
Type of case study: Constructed scenario with invented figures. No real incident, no real protocol.
Scenario
Two pools sit side by side in a list, both showing 5.0 % APY. Someone asks which of them is better. Answering starts by taking the number apart: what is it made of, what does it refer to, and what does it say about tomorrow?
Data
- Pool A — total APY
- 5.0 %
- Pool A — split
- 5.0 % base, 0.0 % incentive
- Pool B — total APY
- 5.0 %
- Pool B — split
- 0.8 % base, 4.2 % incentive
- Pool A — value deposited
- USD 820m
- Pool B — value deposited
- USD 9m
- Where both figures come from
- aggregator snapshot, one point in time
Questions
Are the two figures comparable? Justify your answer from what is in the data.
Answer “which is better?” in two sentences — without answering the question the data does not support.
Analysis dimensions exercised
Sources
- EVD-2026-0008 — DeFiLlama: DeFiLlama yields endpoint (/pools)
Institutional perspectives
Advisory