i think one of the biggest upgrades in defi is making one asset do more than one job.
for a long time, the strategy was simple.
deposit your funds, earn yield, claim rewards, and repeat.
but i don't think that's enough anymore.
the way i see it, capital should be working as hard as possible.
if i'm holding an asset, i want it to do more than just sit there.
i want it earning yield.
i want it qualifying for incentives.
i want it unlocking liquidity through lending markets.
i want it connecting with other protocols that create even more opportunities.
that's what capital efficiency is all about.
it's not about putting in more money.
it's about getting more value from the money you already have.
that's one of the reasons i find
@alturax interesting.
an AVLT position isn't limited to a single use case.
it can earn through the vault's underlying strategies while also being integrated across the wider defi ecosystem through products like Pendle and Morpho, with additional opportunities like YieldRun adding another layer of rewards for active users.
to me, that's a much smarter way to think about on-chain capital.
the future of defi won't just be about earning yield.
it'll be about making every dollar work in as many ways as possible.