Incentives Won't Fix Your Product

Have you ever heard the story of the crypto product leader that gave out juicy incentives over a long period of time to cement their position? Neither have I — or anyone else, for that matter.

It’s true, tokens are a valuable tool in that they can be used to incentivize people to interact with a protocol. As a money market, you can juice up lending yield and make borrowing rates more attractive. As a DEX, you can improve LP return profiles and shore up more taker volume. So on and so forth.

Here’s the thing though: if your entire product offering’s appeal is centered around incentives, your p

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