The quest for liquidity among protocols has been one of the major concerns for every crypto startup. This led teams to spend significant amounts on advertising and incentive programs to attract liquidity. As a result, individual users went from protocol to protocol with their liquidity to earn yields from the best incentive programs with very few becoming sticky and permanent liquidity providers. This unsustainable market of incentive programs could now be disrupted - with “Chicken Bonds”, the latest drop of our portfolio company Liquity.