> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hiveintelligence.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# DeFi yield

> Compare pools on more than the headline APY.

Headline APY is the least reliable number in DeFi. It is usually annualized from a short
window, often includes incentive emissions that are about to end, and says nothing about
whether you can exit.

## Ask

> Find USDC yield opportunities above 5% APY. For each, show TVL, what the yield is actually
> composed of, and how long the pool has existed.

## What to compare

| Signal             | Why it matters                                                                      |
| ------------------ | ----------------------------------------------------------------------------------- |
| TVL                | A shallow pool can be drained or exited before you can react, whatever the APY says |
| Base vs reward APY | Base yield persists; emissions stop                                                 |
| Pool age           | New pools have no track record and higher contract risk                             |
| Protocol TVL trend | A protocol losing TVL fast is a different risk than a stable one                    |
| Chain              | Where the pool lives changes both bridging cost and risk                            |

Where the upstream source separates base yield from incentive rewards, that split is the
single most useful signal when a headline number looks too good.

## Then check the contract

A yield opportunity is also a contract you are about to approve. Run the
[token security](/guides/token-security) checks on the pool token and the protocol before
committing, and look at outstanding approvals afterward.

## What this cannot tell you

Impermanent loss is not in the APY. For volatile pairs, a high APY can still lose against
simply holding. Hive gives you the inputs; the model is yours.