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Now that you are familiar with governance, financial math, liquidity tokens, and other DeFi primitives, understanding your first DeFi protocol won’t be difficult.
The last study trick we will learn is to study a protocol version by version. This lets us get into the heads of the designers to understand why they made their design choices. When a protocol keeps a feature the same, removes another feature, and adds a different feature, this provides a strong signal to the motivation behind the feature.