ผลตอบแทนที่แท้จริงของการทำ Yield Farming เทียบกับมูลค่าที่รับรู้

It's a common observation. The advertised APYs rarely factor in the various hidden costs and risks that can significantly erode actual returns, especially when liquidity shifts or prices diverge. One has to wonder if most participants actually calculate their net returns after all is said and done.

Good point on the risk-adjusted returns. I've found that accounting for gas fees and the time spent managing positions can significantly eat into those advertised APYs, especially on chains with higher transaction costs.