bringing liquidity into a vault is one thing. keeping it there without wasting incentives is another. this is where Turtle Streams from @turtledotxyz gets interesting. instead of treating every deposit the same, protocols can choose what they want to reward. TVL based streams calculate rewards from the value held over time. deposit based streams can reward participants according to how long they commit capital. different approaches, depending on the behaviour a protocol wants to encourage. and theres a business story behind these tools. Turtle reported $1.04M in Q3 revenue across Turtle and Lunar Strategy, on a cash in basis and net of intercompany. the revenue came from services and distribution while products like Streams were still evolving. Streams also became self serve during Q3. what catches my attention isn't just that teams can launch incentive campaigns themselves. its that they can define what theyre paying for, rather than simply offering rewards and hoping liquidity stays. that feels like a more useful direction for DeFi distribution.
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