One of the biggest challenges in DeFi has always been: How do protocols attract high-quality liquidity? Traditionally, new protocols distribute large amounts of tokens to attract users. However, this often leads to:Airdrop hunters who leave immediately after claiming rewardsLiquidity providers who withdraw funds after a few daysUsers who never actually engage with the productAs a result, protocols spend heavily on incentives without necessarily attracting long-term participants. Royco propose...