One thing crypto keeps teaching me: Never underestimate incentives People love talking about technology, almost nobody talks about incentive design Yet incentives explain why users stay Why liquidity moves Why ecosystems grow And why some protocols create loyal communities while others only create temporary speculation Whenever I look at a new project, I spend less time asking: "How good is the technology?" And more time asking: "What behavior is this protocol rewarding?" That single question has changed how I evaluate opportunities