Liquidity is a critical component of financial markets, influencing everything from trading efficiencies to market stability. This course provides a comprehensive introduction to the concept of liquidity, focusing on the role of liquidity incentives and governance tokens within the rapidly evolving landscape of Decentralized Finance (DeFi). Participants will explore the intricacies of liquidity pools, governance mechanisms, and the design and impact of liquidity incentives. Through case studies and real-world applications, learners will gain insights into both successful projects and failures, equipping them with the knowledge to navigate and contribute to the future of DeFi effectively.