The incentive mechanism is a double-edged sword. Short-term subsidies can quickly gather attention, but without real demand and sustainable income, once the heat fades, it will only leave hollow data. A healthier model is to use incentives at the key nodes of the 'circular flow': supplementing liquidity is not as effective as supplementing trading depth, supplementing yield is not as effective as supplementing user experience, and supplementing gimmicks is not as effective as supplementing risk control and stability. Letting users stay because it's useful is far more stable than letting users come for rewards.
I like to evaluate whether a protocol is mature by looking at whether its income structure and cost structure can be self-consistent: whether fees, interest spreads, service charges, etc. are sustainable, whether security and operational costs are controllable, and whether the proportion of incentives gradually decreases while core indicators can still grow. The advantage of the TRON ecosystem lies in its high-frequency interactions suitable for 'real use.' As long as the incentive is designed to be a tool that promotes reuse, the ecosystem can transition from subsidy-driven to demand-driven, making growth more like a snowball rather than fireworks.
@Justin Sun孙宇晨 #TronEcoStars #defi #Tron #TokenomicsTitansSPJIMR #SustainableMining