YIELDMAGGEDON: WHY LAZY YIELD IS DEAD; OPTIONS ARE THE NEW FRONTIER

Summary from the TLDR Crypto newsletter

The post argues that the easy, mostly delta-neutral 20-30% crypto yield era is largely over as the biggest historical yield sources (e.g., airdrops/points, perp incentives, basis trades, etc.) compress. With baseline yields (e.g., sUSDe) down sharply versus 2024, many yield products will either die or take hidden risks. The next frontier is onchain options selling (covered calls, call spreads, cash-secured puts) as a scalable way to earn yield by explicitly warehousing volatility rather than hunting temporary loopholes.