2025-12-30 08:23:59

Most protocols in the DeFi space are competing with token incentives, pouring money to attract liquidity, and once subsidies stop, they start to turn around. Some projects have taken a different approach—avoiding excessive incentives and instead focusing on creating real returns.

For example, some protocols focus on stablecoin strategies, using institutional-grade market-neutral mechanisms to operate. The logic behind this approach is clear: regardless of market fluctuations, they can maintain relatively stable outputs. They do not rely on airdrops and token releases to attract users, but instead retain users through genuine capital protection and stable returns.

This differentiated approach still has room for imagination in the current DeFi environment.

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MevShadowranger

· 3h ago

Subsidies are withdrawn as soon as they are pulled back; this trick is everywhere in DeFi. The stablecoin sector is indeed interesting, but the key is whether it can really hold up. It's the same old rhetoric; let's see how long I can stick with it. Market neutrality sounds good, but how stable are the actual returns? Most projects are just good at pie-in-the-sky promises; whether this time can be different depends on that.

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MetaDreamer

· 3h ago

To be honest, most projects still spamming airdrops in DeFi are just scamming. They run off after the subsidies are gone, leaving users with nothing. The projects that genuinely focus on stablecoin strategies are playing it real; although the returns aren't that exaggerated, at least they won't rug pull.

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MEVSandwich

· 3h ago

Subsidies stop and they run away. We've seen this trick so many times, we're just waiting to see who can survive with real skills. If the path of stablecoins can truly be paved, it would definitely be more trustworthy than those worthless tokens. But the key still depends on whether the team is reliable. These words sound nice, but I really want to see how many can truly withstand a bear market.

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PanicSeller

· 4h ago

That's right, but the problem is that most projects can't implement this system at all. Offering incentives is the fastest way. --- The stablecoin strategy sounds good, but how many can truly generate stable output? Most are just repackaged versions of the same old approach. --- This is the right way, much more reliable than projects that rely solely on airdrops to sustain themselves. --- The issue is that users are only interested in this approach. Without incentives, who will participate? --- There's some room for imagination, but whether the market will buy into it is hard to say.

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FastLeaver

· 4h ago

Really, those protocols that rely on throwing money to attract users will eventually die. The market is still competing over yields, but only those who can consistently deliver will be the winners. The stablecoin mechanism has indeed developed some interesting features, but can it truly retain users? We'll see when this cycle ends.

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