DeFi lending markets face a significant unspoken issue often hinted at by the question: "Where does the yield come from?" This question seeks to uncover whether DeFi lending can deliver scalable and sustainable yield without relying on incentives. It's easy to inflate yields with short-term incentives, but providing sustainable yield at scale without taking on massive risks (e.g., Luna/Terra) is far more challenging. The solution is straightforward: Focus obsessively on the borrower.