Many complex yield structures ultimately fail, but the reasons are often misunderstood. People always think it's because the yield promises are too optimistic, but the core issue lies elsewhere—persistent borrowing costs eating into profits.

Think about it: no matter how perfect the strategy framework is, once borrowing costs rise high enough, it all turns into a chase for high yields. Users are forced to obsess over interest rate fluctuations, seeking more aggressive returns to cover costs. As a result, risks naturally escalate.

Sober project teams will instead consider: can we push borrowing costs down to a sufficiently low level? When users are no longer forced to chase yields, they can confidently execute their strategies.

In some leading lending protocol ecosystems, using blue-chip assets as collateral combined with low-cost stablecoin liquidity tools can create a fairly smooth yield path. This smoothness isn't mediocrity; it signifies high predictability—you can clearly know roughly how much the costs are and where the return range lies.

In the long run, predictable and stable returns often outweigh explosive profits. Because the former determines whether you can sustain executing the same plan, while the latter will eventually spiral out of control.