>"The Defi bull market, started by COMP liquidity mining in Summer 2020, has turned many Defi protocols into rapidly growing revenue monsters. You would assume that this puts them in a comfortable financial position, and a superficial look at DAO treasuries seems to confirm that. For example, [OpenOrgs.info](http://OpenOrgs.info) suggests that the top Defi protocols are..."

As it often happens, low-effort sharing of a description of a post doesn’t do favor to it. This article is actually very interesting and pinpoints a problematic way of evaluating Defi treasuries. Another quote could be : “While we agree that native tokens inside a project’s treasury may be financial resources, counting them as assets on their balance sheet does much more harm than good and is often used as an excuse for poor treasury management.”