The return gap
On-chain dollar markets often pay more than a high-street savings account, because there is no branch network and the rate is set by supply and demand rather than by a bank's pricing committee. That gap narrows and widens with the central bank rate, which is exactly why a live tracker is more useful than a once-a-year article.
The protection gap
A bank deposit in most countries carries government-backed insurance up to a limit. A digital dollar balance does not. If the issuer, the platform or the underlying code fails, there is no scheme that makes you whole. This is the most important single difference and no rate makes it disappear.
Access and speed
Most of these markets let you withdraw at any moment, and settlement takes seconds rather than business days. A few use fixed terms or notice periods. The specs panel on each market page notes the exposure type so you can see what you are signing up for.
Tax and reporting
Interest earned this way is usually taxable in the same way as other investment income, and in many countries you are responsible for reporting it yourself — nobody sends you a statement. Keep records of deposits, withdrawals and interest, and speak to a qualified adviser about your own situation.
A sensible way to think about it
Treat a bank savings account as your protected base, and treat an on-chain dollar position as an investment with a higher expected return and real risk of loss. Size it accordingly.