Topic

Token incentives

Payments in a protocol's own token used to attract users, liquidity or service providers to a crypto network.

Current clusters

invest1 publisher

Ethena stops paying USDe stakers in ENA after supply falls more than two-thirds from its $15 billion peak

Ethena is cutting ENA rewards for USDe stakers to zero after paying out more than $750 million, with USDe supply below $5 billion from a $15 billion peak. The supply that remains now earns funding-rate yield alone, so the coming months test whether a synthetic dollar keeps its holders without a subsidy.

Publishers:cryptobriefing.com

Reality

Evidence40
Adoption35
Hype gap+10
Incentives45
Confidence45

invest1 publisher

Morpho's vault curators depend on offchain fees and subsidies, distributor contracts show

Curators managing vaults on Morpho, a lending protocol with more than $3 billion in deposits, rely on offchain fees and subsidies, Crypto Briefing reports. A 10% cut of a 5% yield leaves the curator of a $100 million vault about $500,000 a year to run a risk team.

Publishers:cryptobriefing.com

Reality

Evidence30
Adoption55
Hype gap+35
Incentives: Insufficient
Confidence35