@magnifico-lbr
You see a protocol offering 52 % APY on stables.
You know it’s probably unsustainable.
You deposit anyway for two weeks.
Congratulations, present bias just hijacked your future self.
Present bias: we overweight immediate rewards and brutally discount future consequences.
In DeFi it shows up as: “100 % APY today feels better than 12 % forever, even if the 100 % lasts 11 days and then rugs.”
The math is brutal (52 % APY, daily compounding)
$10k for 11days = ~$10,127 total (+$127 profit), then 80% rugged
$10k at 12% for one year = $1200, still there next Christmas.
Only antidote I’ve found: force a 72hour wait rule on any yield > 25 %.
By the time the timer ends, the protocol usually implodes or you come to your senses.
Either way, your future self sends a "thank you" note.
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