CoinWorld News reported, and ME News confirmed that on March 31 (UTC+8), DefiLlama recently compared data on Aave stablecoin APY, the Federal Reserve's federal funds rate (FFR), and the median interest rate on US bank deposits. Historically, Aave stablecoin lending rates have fluctuated around the FFR multiple times, while the median interest rate on US bank deposits has generally formed a "floor" for DeFi yields. When the median bank deposit rate approaches zero, DeFi stablecoin yields may also approach zero. Several industry participants pointed out that DeFi yields need to compete with traditional financial deposit rates, and the premium above bank rates mainly reflects on-chain credit and liquidity risk premiums.

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