Great questions, Rob!
If the proposal passes, my go to team for the wrapping would be
https://wrapping.services. They already have a number of coins they've delivered wrapper solutions for, and they have a multi-year history of keeping native coins they manage stable for exchanges like Bittrex and Abra.
Trust in DeFi usually needs to be earned, which translates to DeFi devs at any table delivering what is promised and their preventative measures and crisis responses under pressure. One risk historically that is possible with these pools and exchanges is that the devs running a platform can "pull the rug" and steal coins. Another would be the same DDoS and other threats that can arise if infrastructure preparations have not been made ahead of time, with attempts historically made to hijack website traffic. This has not happened on exchanges with well-coded contracts and secure infrastructure designs. Having their contracts audited by an agency like Certik to validate security protocols are in place is a big deal in the space that puts hodlers and investors at ease.
In addition, for example, exchanges like Pancake Bunny have made names for themselves recently to the point that a rug pull would no longer be to their advantage:
https://www.binance.com/en/blog/421499824684901928/Binance-Labs-Leads-$16-Million-Strategic-Investment-Round-for-MOUNDHigh reputation and effective crisis mitigation results in high usage and ever-increasing investment. If you take a look at
https://bscscan.com/yieldfarms and sort by marketcap, you can see the extent to which communities are staking their claims in certain places.
CAKE (PancakeSwap's token) was priced at around $0.87 in mid-January. It has averaged in the low to mid 20s ($20-$25) for the past couple of weeks. Here's a pretty decent article that breaks down the why and how it can hold that kind of value with gradual depth:
https://www.coinbureau.com/review/pancakeswap-cake/In addition, it then comes down to the variations of benefits being offered on each respective platform (farming, lending, borrowing, trading, etc.) and the benefits of utilizing those features of specific platforms versus others to varying most manageable degrees. This is where DYOR and each trader's particular dev or investment approaches come into play to allow them to create strategies best customized to meet their needs.
Remember that a liquidity pool allows you to hold a pair of tokens ($100 worth of BBP and $100 worth of a Stablecoin, for example) on an exchange for trading. Anyone holding either of those coins can affect your holdings by purchasing the token they don't hold from you at the value you've set, thus ending either you up with "more BBP, less Stablecoin", or "more Stablecoin, less BBP." If you were to stake that liquidity pair for yield farming, you can be still affected by price movement on an exchange, but your ongoing profit is the token you staked the pair to have yielded to you in the first place. These are two standard scenarios that don't touch on the lending or borrowing. Check
https://dapp.com and
https://dappradar.com/ and filter on BSC to get ideas of the platforms one might want to keep aware of as they design their best fit approaches. To answer your question: Properly positioned, yes - the ROIs can be real for those who do their homework across the space.
