In DeFi, incentives are everywhere. Protocols distribute tokens to:attract liquiditybootstrap growthcompete for attentionTo users, this feels like an opportunity.deposit → earn → repeatIt feels like “free yield”. But nothing in markets is truly free. And incentives, while powerful, come with hidden costs that are often misunderstood.1⃣ Incentives as a Growth MechanismAt their core, incentives are simple. Protocols issue tokens to:increase TVLattract userscreate network effectsThis works. Capi...