🚨 Remember when every new L2 was the next big thing? Low fees, high speed, unstoppable DeFi revolution. But today, TVL down +80%, tokens nuked, and holders left holding the bag. Let’s unpack the rise and fall, and the lessons we should learn from it 🧵

1/ Before we talk about the lessons to learn from this, let’s take a look at some of the chains that once aimed to change the future of finance but ended up as ghost chains, failed experiments, or worse… community rugs.

2/ @Blast Blast was one of the most obvious Ponzi schemes in the space The only ones who benefited were the team and the KOLs who shilled it. TVL down to 60M from +2.5B $BLAST Token crashed 95% from its ATH.

3/ @Scroll_ZKP They farmed users for years and then failed them like there’s no tomorrow. Lost 90% of its TVL, but today thanks to etherfi cash, chain gained some TVL $SCR token is down 87% from its ATH

4/ @Taikoxyz Abased rollup where decentralization isn't a compromise, it's their superpower 😂 The chain lost about 99.3% of its TVL / From +$450M to $3M. Its token $TAIKO did not perform much better and down 93% from its ATH

5/ @ModeNetwork L2 and Perpetuals DEX scales DeFi through AI agents and AI-driven financial applications. Numbers says it all Both TVL and Token $Mode are down +99%

6/ @zksync This one’s a little different, but the ending? Same story. I’ll explain why in the following TVL down from $240M to ~$40M $ZK is down 88%

7/ @Fuel_Network A high-performance Ethereum L2, powered by the FuelVM and verifiable Both TVL and Token $FUEL are down +90% from ATH

8/ @Mint_Blockchain The Ethereum Layer2 connects global consumers with NFTs. TVL down to $60K Token $MINT down 97%

9/ This seems like an endless list so I will just mention few more and then go to the point @BuildOnCyber TVL and $CYBER down +90% @ZKFCommunity TVL and $ZKFair down +99% @bobanetwork TVL and $BOBA down +99%

10/ @EclipseFND, @zkLink_Official, @ApeChainHUB, @RariChain, @degentokenbase and ...... All of these chains are not doing much better, if not worse Many call this the result of failing community or a bad airdrop but imo the result would be the same for most no matter what

11/ There are several factors involved. 1) The problem wasn’t building a chain It was failing to build something unique. In crypto, launching a chain is the easy part / solving a problem others couldn’t is what really matters.

12/ 2) Native and Leading DeFi Products Keep Users Engaged Chains with native products that people actually use gain more than credibility / they gain stickiness. I don’t shift funds lightly sometimes the risk is too high, fees or my positions/loans won’t allow it.

13/ 3) Community Crypto has changed many lives not just for developers or investors, but for people who used to earn less than $1K/month in regular jobs. Suddenly, they had the chance to earn more while doing less. They arent crypto/defi/community members they're just farmers

14/ That's why crypto projects get a lot of attention/users, and they think they build a community, but after the TGE their chain/projects become a ghost town. Real users are hard to onboard they stay only if your service adds value, not just for an airdrop.

15/ 4) PPL don’t just jump from one project to another Airdrops can get users to try your product. But if it’s not truly unique, they leave the moment the incentive disappears. This isn’t just crypto. Google tried it with Orkut, Buzz, and Google+.

16/ @Starknet / is a great example here From being farmed and trusted by many users to being called “eBegoor,” + a bad airdrop made them one of the most hated chains in crypto. It was all OVER for them and i personally saw 0 chance for a comeback

17/ They switched from the ETH community to BTC and gave them something they never had // putting BTC to work. Though $STRK token is still down badly, they were able to regain $200M+ in TVL / not because of an airdrop or community hype, but by offering something truly unique.

18/ TDLR Don’t hold a token if the project: -Is just a rebrand or copy of 100 existing projects -Is losing TVL or revenue -Offers no real reason for users to engage -Has no native products or real utility -Fails to give new users a reason to use it

19/ -Relies solely on airdrops, giveaways, or FOMO to grow -Has weak or unsustainable tokenomics favoring insiders -Lacks transparency, roadmap, or consistent execution -Has an inactive or hype-driven community -Concentrates TVL or volume in a few wallets

20/ -Isn’t actively forming useful partnerships -Is centralized despite claiming to be decentralized -Ignores regulatory, security, or compliance concerns The statement, "You wont be rich if you can't HODL," is valid only for BTC and ETH

21/ This is the last tweet. Let me know what you think. Dont forget to like and RT the first tweet.