V God initiated the DAI loan annual interest rate over the national debt vote, more than half of the voting users believe that DAI may face collapse at any time

Eitafang founder Vitalik today voted on Twitter about the “DAI loan annual interest rate gap with the US 10-year bond yield”. V God pointed out that DAI loans can provide an annual interest rate of 11.5%. The yield on the US 10-year government bond is only 1.5%. Why is there such a gap? At the same time, four options are given: 1. Temporary phenomenon, affected by the market; 2. DAI has the risk of crashing at any time; 3. Risk of Compound closure; 4. Other, please reply in the comments .
As of now, the results show that more than half of users believe that the risk of DAI crashing at any time has led to its high annual interest rate. V God said in the comments that this is why I think that "loan" is part of the wrong metaphor of the whole defi. Most loans issued in developing countries are not 150% guaranteed by other highly liquid crypto assets (or generally high liquidity or digital assets).