Basically every successful defi protocol launched in the last year is cheating. 

Large LPs, market makers, and whale family offices are making 15% APY minimum on their ETH, guaranteed and risk-free by depositing in defi protocols, who pay massive bribes under the table.

It's all part of an elaborate scam to inflate tvl numbers over the short term, which are used to justify higher FDV, so projects can dump on the few real users faster at higher valuations. 

The math is insane and the whales have all the leverage.

How can this make sense? Where does the the yield come from?