Defi Yield

DeFi Yield

Yield farming opportunities, APY comparisons, strategy guidance, and risk metrics.

APIs

DefiLlama Yields (Free, no auth) — Primary source

Base: https://yields.llama.fi

All yield pools (10k+ pools across all DeFi):

web_fetch url="https://yields.llama.fi/pools"

Key response fields:

• pool — unique pool ID (use for chart endpoint)
• project — protocol name (e.g., aave-v3, curve-dex, pendle)
• chain — chain name
• symbol — pool token(s)
• tvlUsd — total value locked in USD
• apy — total APY (base + reward)
• apyBase — base yield (swap fees, interest)
• apyReward — incentive/farming rewards
• apyMean30d — 30-day average APY
• stablecoin — whether pool is stablecoin-only
• ilRisk — impermanent loss risk level
• exposure — single or multi asset

Pool history (daily APY over time):

web_fetch url="https://yields.llama.fi/chart/POOL_ID"

Filtering strategies (client-side):

• Stablecoin yields: filter stablecoin: true
• Low IL risk: filter ilRisk: "no" or exposure: "single"
• High TVL (safer): filter tvlUsd > 10000000
• Specific chain: filter chain: "Ethereum" or chain: "Arbitrum"

Pendle API (Free, no auth)

Base: https://api-v2.pendle.finance/core

Active markets (fixed yield opportunities):

web_fetch url="https://api-v2.pendle.finance/core/v1/1/markets?order_by=name&skip=0&limit=20"

Market details (implied APY, maturity):

web_fetch url="https://api-v2.pendle.finance/core/v1/1/markets/MARKET_ADDRESS"

Multi-chain markets:

Replace 1 in URL with chain ID.

Key Pendle concepts:

• PT (Principal Token) — buy at discount, redeem at par at maturity = fixed yield
• YT (Yield Token) — leveraged yield exposure until maturity
• Implied APY — the fixed rate from buying PT
• Underlying APY — current floating yield of the underlying asset

Curve Finance API (Free, no auth)

All pools with APY:

web_fetch url="https://api.curve.fi/v1/getPools/all/ethereum"

Volume and fees:

web_fetch url="https://api.curve.fi/v1/getVolumes/ethereum"

Supported chains: ethereum, arbitrum, optimism, base, polygon, avalanche, fantom

Convex Finance

All pools (Curve + Convex rewards):

web_fetch url="https://www.convexfinance.com/api/curve-apys"

Yield Strategy Guide

Low Risk (Stablecoins)

1. Lending — Supply USDC/USDT to Aave/Compound (2-8% APY)
2. Curve stable pools — USDC/USDT/DAI pools (2-6% base + CRV rewards)
3. Pendle PT — Buy PT-aUSDC for fixed yield until maturity (4-10%)
4. Morpho vaults — Curated lending vaults (3-10% APY)

Medium Risk (Blue-chip)

1. LST yield — Hold wstETH/rETH (3-5% staking APY)
2. LST LP — wstETH/ETH pools on Curve/Balancer (3-8%)
3. Pendle PT-wstETH — Fixed staking yield at premium (5-10%)
4. Aave recursive — Supply wstETH, borrow ETH, re-supply (leveraged staking)

Higher Risk (Maximizing)

1. Incentive farming — New protocol token rewards (volatile, high APY)
2. Pendle YT — Leveraged yield exposure (can go to zero at maturity)
3. Concentrated LP — Uniswap V3 narrow range (high fees, high IL)
4. Points farming — EigenLayer, Ethena, new protocols (uncertain value)

Risk Assessment Checklist

When recommending yields, always consider:

1. Smart contract risk — Is the protocol audited? How long has it been live?
2. Impermanent loss — Multi-asset pools lose value if prices diverge
3. Reward sustainability — High APY from token emissions decreases over time
4. TVL trend — Declining TVL can signal problems
5. Depeg risk — Stablecoin or LST depegging from underlying
6. Maturity risk (Pendle) — PT has fixed maturity; early exit may lose yield
7. Protocol-specific — Governance attacks, oracle failures, admin keys

Usage Tips

• DefiLlama is the single best source for cross-protocol APY comparison
• apyBase is more sustainable than apyReward (rewards get diluted)
• apyMean30d is more reliable than current apy for forecasting
• For "where should I put my USDC", filter DefiLlama for stablecoin pools with TVL > $10M
• Always note the chain — same protocol can have very different yields on different chains
• When reporting yields, distinguish between base APY and reward APY
• Warn users about IL risk for volatile pair pools