Skip to main content

Founding Phase · Private Beta. The Institute is in private beta. Any example content is labelled as such and is never presented as real.

DSI
Learning track

DeFi & Market Structure

TVL, liquidity and incentive design: how ecosystem growth numbers are produced, and how they mislead.

Advanced1 published course5 lessons6.2 h of work, published courses only
Back to the Training Lab

Test an incentive proposal for mercenary liquidity and double-counted TVL before accepting its growth claim.

Courses in this track

What you will work through

DeFi & Market StructureAdvanced

TVL, Liquidity and Incentive Distortion

What a total-value-locked figure counts and what it hides, how liquidity differs from depth and volume, why incentivised liquidity leaves, how to evaluate an incentive proposal against a counterfactual, and the market-structure risks that sit underneath all of it.

6 h 10 min to 7 h 45 min total work2 h 10 min of that is reading5 lessonsReading + exercise
Your progress0/5 lessons