Is anyone still farming yield in DeFi?

Been thinking about this lately and curious where people here stand.

On one hand, the core DeFi stack is still very much alive. Lending markets work, LP pools still generate fees, vaults auto-compound, perps exist, all the usual stuff. In some ways the infrastructure is actually better than it was a few years ago.

There are also more “packaged” strategies now so you don’t have to babysit every position yourself. For example I’ve been looking at things like stone vault (stvaio) lately. From what I understand it’s basically a stablecoin vault where you deposit censorship-resistant stables like LUSD and the contract spreads liquidity across places like Spark, Aave and Curve to try to generate around ~10% APY. The idea being diversification + automation instead of manually hopping between pools all the time.

So from a purely technical perspective, DeFi clearly still works.

But the overall feeling around it has changed a lot for me.

Back in the earlier days it felt way more experimental and kind of fun, even with the risks. Now the whole environment feels heavier. Every time I move funds from a CEX I’m half expecting another compliance check or some random question about transactions. Taxes are basically part of the UX now. And smart contract risk never really went away — we just wrapped it into nicer dashboards, vaults and “strategy products.”

So sometimes I wonder if DeFi today is less about chasing crazy yields and more about carefully tolerating a stack of risks that we’ve just gotten used to.

Curious what people here are actually doing these days.