Assets like stocks generate meaningful income beyond dividends and price appreciation, but most investors don’t see the full upside. They suffer from “yield leakage” - the hidden income their assets generate, but isn’t fully realized.
In traditional finance, yield leakage is

Not trying to minimize the exploitation of creators in any way, but this is also not true
tradfi intermediaries extract more value from typical retail clients (in banks, brokerages, money market accounts) than the entire creator economy as a whole
Here’s one example

Jon Schwartz | GLIF

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股票等資產除了股息和價格上漲之外，還能產生可觀的收入，但大多數投資者並未看到全部的收益潛力。他們遭受「收益流失」的困擾——即資產產生的隱性收益未能被充分實現。

在傳統金融領域，收益流失是指

過去半年，我從一個 Web3 的旁觀者，走進了支付行業內部。而現在，我選擇停下來，不再繼續做 Web3 支付。
這並不是一次失敗後的撤退，而是在真正下場之後，做出的判斷調整。這半年裡，我去過義烏、水貝、莆田，也去過墨西哥，看那些報告裡最熱鬧的地方，支付到底是怎麼被做出來的。我也下了場，搭過 Web3 支付的 MVP，接過賬戶，做過Web3收款工具，試著把想象中的路徑，從第一步跑到最後一步。
但越往...

創業者自述：從開始到放棄，我為什麼不做Web3支付了

要點：

Trust Wallet 的 Chrome 擴充功能於 2025 年 12 月 26 日遭到攻擊，導致用戶損失 700 萬美元。

此次事件僅影響瀏覽器擴充功能。

ZachXBT 也指出…

Trust Wallet錢包被偷：700萬美元被盜，騙子被ZachXBT曝光

Cardano價格持續深陷熊市，延續了自去年 12 月觸及 1.3245 美元高點以來的拋售行情。目前其交易價格為 0.3565 美元，較 12 月高點下跌約 73%，且…

午夜代幣發行後， Cardano價格預計將飆升 40%，關鍵 DeFi 指標大幅上漲。

Vanguard reports their average income per dollar on loaned securities to be in the 4% per year range (even on large-cap securities), which is pretty nuts https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/value-securities-lending-three-charts.html…
*Vanguard does pay 100% of stock lending revenue back into their ETFs like VOO. This is good for investors. But this level of transparency and flow-through isn't the norm.
3/4

Vanguard 報告稱，其證券借貸的平均年收益率約為 4%（即使是大型股），這簡直令人難以置信 https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/value-securities-lending-three-charts.html…

*Vanguard 會將股票借貸收入的 100% 返還到其 ETF（例如 VOO）。這對投資者來說是好事。但這種透明度和收益回流並非行業慣例。

3/4

In some cases, paying fees to intermediaries makes sense, especially for investors that wish to be more passive, and in highly regulated markets.
But it goes to show that disintermediation through smart contracts can and will significantly reduce this burden. Ultimately this benefits the average investor, who will capture these on-chain efficiency gains in higher yield. It's a multi-trillion dollar opportunity
/fin

在某些情況下，向中介機構支付費用是合理的，尤其對於希望採取更被動投資策略的投資者以及在嚴格監管的市場中而言。

但這表明，透過智能合約實現去中介化可以而且將會顯著降低這種負擔。最終，這將使普通投資者受益，他們將從鏈上效率的提升中獲得更高的收益。這是一個價值數萬億美元的機會。

/fin