In finance, the great majority of end-users and investors don’t actually consider where the yield on their capital comes from – DeFi is no different. With the recent cryptocurrency market downturn, Total Value Locked (TVL) is down, yields are evaporating, and a myriad of risks seem to be spreading, such as stablecoins de-pegging from their 1:1 peg. This begs the question – does legitimate yield even exist? If so, how does one evaluate the risk of placing capital in a yield-bearing product? There are basics worth covering on how to conceptualize the yield opportunities that are marketed to consumers across the financial world and they all apply regardless of CeFi, DeFi or TradFi.