Thank you for the invitation from @ funnyboom101, Just finished writing the draft: As a hair raising player who has only entered this cycle, how do I view the liquidity incentive policies currently being introduced by major projects? After going through a cycle, the main track of grooming and on chain interaction has clearly returned to the DeFi/DEX section, especially the Perp DEX. Now almost all of my furry friends around me have placed heavy bets on this track. A clear trend this year is: More and more projects are no longer playing "wide net airdrops", but are starting to reward community builders and real money players with real money. The absolute mainline at present is the DeFi&DEX sector of "saving money+burning money", especially the Perp DEX. This is essentially a shift in the industry from "pursuing user quantity" to "pursuing quality". Nowadays, hairdressers have become more professional and rational. Their focus is no longer on "how many people interact", but on agreements that can attract real money and generate real profits, because these agreements are more likely to give players real "rewards". What is the biggest difference between DRIP and other incentive policies? This year, most projects are focused on "saving money and waiting for airdrops", while DRIP is focused on "welcoming real money players to settle down for a long time". By comparison: The core logic of many projects (such as the popular M project this year) is: Using airdrop expectations to attract users and funds in the short term → TVL skyrockets in one or two months → funds quickly flow out after airdrop landing → returning to the starting point. Arbitrum's DRIP is a completely different approach: It doesn't rely on "airdrop expectations and point rewards" to hang everyone, but directly rewards real on chain players. The top three operations of DRIP are: Supply USDC | Loan USDC | Loan WETH This is completely perpendicular to lending and liquidity supply, performance oriented, and data transparent, Reward real players. This is precisely the embodiment of the true vision of the Arbitrum DeFi Renaissance Incentive Program: It's not about short-term points and airdrop expectations to boost TVL, but about keeping real users, real funds, and real trading volume in the Arbitrarum ecosystem, and growing stronger in the long run! 3. In the long run, do you think such incentive policies can truly promote ecological health and sustainable development? Relying solely on the incentive of "airdrop expectations+token subsidies" to forcefully pull data, 99% cannot go far. In the past two years, as players on the field, we should have seen it very clearly: Expected airdrop → TVL and user numbers skyrocket → Cultural trend of points ranking → Professional wool players/studios dominate the charts → Finally, 90% of users sell coins and leave the market, and then the project goes silent after a few months. A certain M public chain that was hotly discussed a few months ago, No one mentions it now, it's just the most typical case. In the upcoming bear market, I think Put real users first, The project that replaces "airdrop pancake" with "real income sharing/dividends" may be Kings. The reason why Perp DEX is highly regarded is that, It is precisely because it is currently among all DeFi categories: Most likely to generate real cash flow (visible fee income) The easiest way to verify whether the user truly makes money for the agreement (the opening amount, holding duration, and payment fees are clear at a glance), Projects that rely on subsidies, points, and expected airdrops to sustain themselves, After TGE, most of them gradually withdrew, Quiet as if this project had never appeared before, Only the second level holder was injured. And willing to disclose the actual costs incurred, Take it out and distribute it to real players, and deeply bind the agreement revenue with user benefits, He is the leader of the upcoming bear market and future bull market.