DeFi basics
Real Yield
Real yield is DeFi return that comes from genuine economic activity — such as interest paid by borrowers or trading fees — rather than from newly minted token emissions. Real yield is more sustainable because it is not diluted away by inflation, and Spield’s yield is real yield sourced from Blend lending interest.
Also: real yield · organic yield
Real yield is paid in assets people actually want (like USDC) and funded by real revenue — borrower interest, swap fees, protocol earnings. It contrasts with emissions yield, where a protocol prints its own token to advertise a high APY that erodes as the token inflates.
Spield’s yield is real: every unit is backed by Blend’s on-chain lending interest (the rising bRate), so the fixed rate can never promise more than the underlying actually earns.
Educational content, not financial advice. Spield is deployed on Stellar testnet and has not been audited; any figure shown in these guides is a worked example chosen to explain a mechanism, never a quote or a live reading.