Incentives usually fail for one reason:
theyโre temporary.
Projects pay for depth, LPs show up, emissions dry up, liquidity leaves
Hermes went with ve(3,3) because it aligns fees and emissions into a market, then pushed it further with ๐(๐,๐).
4 models that actually work: ve-locks (Curve), ve(3,3) with bribe markets (Aerodrome โ 51% supply locked, $295M distributed), protocol-owned liquidity, and real yield in stablecoins. Common thread: positive net yield *after* dilution. Raw APY is the weakest signal, not the strongest.
https://t.co/EzVSaoYFXf
Send this to your IRL friend who became a genius for 3 weeks during 2021 BSC mania, then roundtripped it all
Some scars never heal.
Maybe he wants to burn again by hunting hyperliquid:native |rEVM betas now
BNB โ HyperEVM in 3s via @HermesOmnichain