Amazing how many times the alt L1 grift can run. Launch “decentralized” L1 where at least half of tokens are owned by insiders.
1. Have paid for TVL
2. Retail sees multibillion tvl and follows
3. Retail sees growing tvl and apes native token
3. Farmers and insiders dump the tvl token incentives
4. Insiders dump
5. Insiders get rich. Retail gets fleeced.
bera, plasma, aptos, etc
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