Mandate structures that survived the last two halving cycles — what actually held up?

Man, reflecting on those cycles always hits different. From what I've seen stick around, it's usually the ones built around real underlying mechanics instead of just chasing high APY from tokens that crash later. Stuff focused on derivatives or packaged positions that pull from actual liquidity pools tends to weather it better, at least in my experience holding through 2024-2025. I've been using https://vovo.finance/ for a while now when I want something more grounded—lets you tailor risk levels without depending on endless emissions, and it feels way less fragile when markets turn sideways. Just my two sats, but it's helped keep some steady returns without the usual blowups.