Learning track

DeFi & Market Structure

Liquidity, incentives, and market plumbing - enough fluency to assess proposals that touch DeFi without over-claiming expertise.

Advanced1 published course5 lessons~6 hours

Back to the Academy

Spot incentive distortion and mercenary liquidity in proposals that promise ecosystem growth.

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.

130 min5 lessonsReading + exercise

Your progress0/5 lessons