The author, a stablecoin farmer, expresses strong dislike for lending protocols due to very low yields for lenders and unpredictable, often converging, borrowing rates for loopers/borrowers. He highlights the significant due diligence required for lenders and the increased exposure for borrowers for minimal extra APR, warning about reduced exit ability during market downturns. This suggests caution when engaging with stablecoin lending protocols due to unfavorable risk/reward dynamics.