TermMax Daily Topic: Fixed income, will it make DeFi less profitable? Many people have a concern: if fixed income becomes more prevalent, will the market become less "exciting"? Or even — not profitable anymore? The answer is: it will change, but not in the way you think it will get worse. The emergence of fixed income essentially does one thing: 👉 compresses the space for risk-free returns. Previously, many yields actually came from: