⚖️ **Arca: What's Driving Token Prices?**
Arca's market note examines structural issues in token design and lending activity, including problems with KelpDAO's token setup and its lending exposure on Aave, as a case study in how protocol mechanics — not just sentiment — drive token price action. The piece is a reminder for fintech investors that DeFi yield products carry underappreciated structural risk.
[🔗 Read more](/leaving?url=aHR0cHM6Ly93d3cuYXIuY2EvYmxvZy93aGF0cy1kcml2aW5nLXRva2VuLXByaWNlcy1hcHJpbC0yMi0yMDI2)