DeFi: The Dangerous Game of Governance Tokens

The last few months have generated an explosion of discussion in the crypto world about governance tokens and so-called ‘yield farming’. There’s lots of chatter around incentive structures for the variety of actors in the field. In particular, the DeFi community has settled on a rather unusual consensus about the balance between arbitrageurs, liquidity and infrastructure providers, and the viability of governance tokens going into the future.