Catch @sandypeng at @chainlink's SmartCon stage discussing "Leveraging the Power of ZK: Chain Solutions for Enterprise Adoption." 🛠️
Join her as she explores how ZK tech empowers enterprises with secure, scalable, and interoperable solutions in a multichain universe.
📆 Main stage | Oct 31 | 10:50 AM - 11:05 AM HKT
🎥 Can't attend in person? Watch the livestream at: https://t.co/TMb4SzCpGF
Very bad, this is why I stay away from the web3 space. It’s fun to find online community and farm, but meeting in person can be frightening. At the end of the day, you don’t really know who the other person is… and there are people out there that do this kind of stuff.
I never thought I’d personally experience something like this. On the evening of October 24th, I was drugged by a partner at @DWFLabs at a bar in HK. I have reported this to the local police and have collected video evidence of him spiking my drink.
I really don’t want to hate on Scroll, but to me, it was a textbook example of a launch using an outdated playbook that just doesn’t work anymore:
1) VC raise at an inflated valuation: The goal seemed to be maximizing the money squeezed out, securing high markups on valuation (last round was at $1.8bn, if I’m not mistaken, and they’re down over 60% already lol)
2) Pointless airdrop farming meta: they incentivized pumped metrics just to raise at higher valuations and create fake hype. Most of the community has already dumped and left the ecosystem.
3) The worst: Binance listing for 5.5% supply (this is just the official number, wouldn’t be surprised if it was more, but at least $70M+ at listing) flushed down the toilet: This was likely one of the main reasons for the current bleeding - just to provide enough exit liquidity for investors.
To sum it up:
CEXs the only winner again, investors pissed, community pissed, retail rekt.
The one thing they didn’t focus on was the only real north star metric an ecosystem should have: actual apps on top that people genuinely want to use, creating lasting value.
It’s unfortunate, but it was all too predictable that this approach would backfire.
Jokes aside, this is crazy. Scroll TGEs, disaster launch, and then they go dead silent for three days??? Projects on them start rigging, and no response or even warnings from the team!?? Many projects don’t have hiccups but I’ve never seen this level of insult to the community.
The @Scroll_ZKP X account has been inactive for the past 3 days. The @the_realscroll account has been loud and growing the past three days.
Liquidity is healing.
let the story of @Scroll_ZKP be a lesson to each and every founder out there:
if you try to enrich yourself & your vc friends over your community, we will burn your pathetic protocol to the ground. you have no power in the absense of gullible retail investors
0 tweets from @sandypeng since the pathetic airdrop. scroll about to drop below 800 mil valuation. tvl dropped by 70% in less than 4 days. she thought they can use our TVL for metrics and then give us a shrimp airdrop, now she is paying the bitter price for it