🟢 Daily ApyPulse | Apr 30 2026 **TL;DR:** We’re in a **risk-on, incentive-driven phase** — capital rotating fast, no loyalty. Farm narratives, don’t marry them. * 300K–800K% APYs = emissions games. Farm & dump, not invest. * Morpho spikes = real meta → custom lending > Aave, but thin + risky. * Base/Aerodrome = incentive hotspot (early but mercenary). * TVL exiting Lido/Spark = rotation out of “safe yield” → risk-on. * Inflows (Morpho, Maple) = smart money wants efficiency + structured yield. * Yield crashes = emissions ended → late farmers exit liquidity. * New chains (Monad/MegaETH) = early farm cycle starting.…