Many people see the APY of Bybit Alpha Farm and their first reaction is: "Isn't this a Ponzi scheme?" But I think everyone might be looking at it the wrong way. What Alpha Farm is doing is not "high-interest savings," but rather bringing the liquidity logic of DEX into CEX. How do traditional CEXs operate? Market making relies on the exchange + professional market makers, and users can only take orders, earning no trading fees. How does DeFi operate? LP
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Many people see the APY of Bybit Alpha Farm and their first reaction is: "Isn't this a Ponzi scheme?" But I think everyone might be looking at it the wrong way. What Alpha Farm is doing is not "high-interest savings," but rather bringing the liquidity logic of DEX into CEX. How do traditional CEXs operate? Market making relies on the exchange + professional market makers, and users can only take orders, earning no trading fees. How does DeFi operate? LP