2025 is a bit like sitting on the sidelines for DeFi yield farmers.

You deposit USDC, USDT, wBTC, and the annualized returns keep declining, whether it's Multipli or other platforms, it's basically the same story. The reason? Well, it's not complicated—overall interest rate environment is just like that, and market sentiment isn't exactly euphoric. Who would want to borrow at high interest to leverage up?

But on the other hand, there might be a turning point in 2026. After the bull market returns, borrowing demand will rise, and yields will naturally increase. So, the current low yields are, in a way, waiting for the wind to come.

Speaking of Multipli @multiplifi, this project has an interesting positioning—focused on "sustainable and transparent" yields, earning as soon as you deposit, without those flashy lock-up games. However, it hasn't officially launched yet, and there's speculation that they're waiting for the best timing for TGE and token issuance.

So, the current low yields are just a cycle issue. The real question is: are you ready to secure your spot before the wind turns?