Token emission schedules are the hidden force that can make or break your DeFi yields. High APYs often come from token rewards—but those tokens are inflating the supply.
Key Takeaways
- High APYs come from emissions, which dilute token value
- Early yields decline as emission rate decreases
- Check unlock schedules before buying governance tokens
- Major unlocks create selling pressure
- Mature protocols with low emissions offer more stable yields