If you've experienced these situations, you've actually stepped into most of the typical pitfalls:

CeFi lending with an annualized return of 10%+ seems very stable, but the platform directly suspends withdrawals, and your principal gets locked;
DeFi market-making and yield farming offer high APYs, but impermanent loss quietly eats up 20%, and the returns can't cover the losses;
Stock funds can rise in a bull market but fall in a bear market, with almost no hedging options;
Stablecoins lying in your wallet feel safest, but the returns are basically zero.
Behind these scenarios, there's actually the same core issue:
Returns are either opaque, unsustainable, or simply a risk taken to achieve them.
Paimon Finance aims to address this by re-anchoring returns to their "real source."
The logic isn't complicated:
Approximately 7% native APY, without relying on incentives or complex structures, comes from institutional-grade private credit, such as
Blackstone's BCRED,
Franklin Templeton's BENJI.
Essentially, it's cash flow from credit interest, not market speculation-driven gains.
The structure also makes some trade-offs:
Daily redemption, no lock-up; audited by NAV Consulting; supported legally by Harneys and BakerHostetler.
It's more like a blockchain-based fixed income product rather than the common "high-yield protocols."
A very practical change in a bear market is:
Instead of continuing to bet on market direction, it's better to get the core yield right first.
High volatility doesn't necessarily mean higher returns,
but stable cash flow at least helps you stand firm through the cycle.