Liquidity mining rewards are broken, let’s fix this! The design of many liquidity mining programs very extractive and parasitical, where projects are giving rewards in hopes of bootstrapping their liquidity, but the liquidity providers that farm either end up extracting and destroying project value. The lifecycle of most DeFi projects tends to go something like this:Launch protocol + token with certain priceIssue liquidity incentives in token with high APYApes add liquidity, TVL goes up, liqu...

Liquidity mining rewards are broken, let’s fix this! The design of many liquidity mining programs very extractive and parasitical, where projects are giving rewards in hopes of bootstrapping their liquidity, but the liquidity providers that farm either end up extracting and destroying project value. The lifecycle of most DeFi projects tends to go something like this:Launch protocol + token with certain priceIssue liquidity incentives in token with high APYApes add liquidity, TVL goes up, liqu...