“Points are like free samples at Costco.”
I’m sorry but that might’ve been the most accidentally revealing statement in this entire conversation 😭
Ethena parks massive capital in Aave, so that loop gets direct economic incentives with REAL dollar value attached.
The rest of the ecosystem got:
⋆⭒˚.⋆ engagement points ⋆⭒˚.⋆
⋆⭒˚.⋆ exploration rewards ⋆⭒˚.⋆
⋆⭒˚.⋆ little samples to try things out ⋆⭒˚.⋆
…and now even the points program is shut down early too.
If native apps are expected to survive on Costco samples (or actually, nothing), while one loop receives real yield, the ecosystem outcome becomes pretty predictable.
Points are like free samples at Costco. It’s to let you try a lot of different things free or cheap without having to buy an entire box or bottle or jar of something. It’s not a way to just get free groceries for the week.