2026-01-04 19:30:16

I haven't been paying much attention to market dynamics recently due to my vacation, and it wasn't until a friend reminded me that I realized Stable has already opened withdrawals. To be honest, this matter is indeed a bit confusing.

According to DeFillama data, Stable's current TVL is only a little over $30,000, and there are basically no DeFi applications running in the ecosystem. This is awkward—users deposit funds and then withdraw them, and what is left in the ecosystem after this round of churn? From the data, it’s almost a blank slate.

In my opinion, the biggest gain from this operation sequence might just be giving participants a free airdrop. But in the long run, how much impact can this mode have on the construction of the project ecosystem? That’s really worth questioning. Funds come in and go out, with no accumulation and no support from real application scenarios, the ecosystem’s vitality is in doubt.

STABLE0,91%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

19 Likes

Reward
19
8
Repost
Share

Comment

0/400

SchrödingersNode

· 4h ago

30,000 TVL, what does that mean? It's just an empty shell. People come in to grab airdrops and then leave, leaving nothing in the ecosystem. Honestly, these kinds of projects will collapse sooner or later. Wait, isn't this the same trick as last year? Honestly, I'm a bit tired of this. Can't they come up with something new? It seems like the project team doesn't even know how to operate. It's already 2024, and they're still messing around with this junk. Fund accumulation? Dream on. I just want to ask one question: who made money?

View OriginalReply0

NeonCollector

· 12h ago

$30,000 TVL still called an ecosystem? Haha --- Another cycle of deposit and withdrawal arbitrage, funds wash and then disperse --- Airdrop enthusiasts rejoice, builders should cry --- No users, no applications, no locked tokens, is this the current state of Web3? --- Basically a gambling platform, anyone who believes is just getting harvested --- Ecosystem? Are you talking about that $30,000? Haha --- Withdraw and run, I don’t understand this move --- No accumulation, no applications, just a game of luck --- Projects with TVL in the triple digits still make headlines, this circle really has imagination --- Funds move in and out, and in the end, there’s nothing but airdrops

View OriginalReply0

LiquidityWitch

· 01-04 19:51

ngl this is giving "summoned a demon but forgot the binding circle" energy... 3k tvl is literally a liquidation sacrifice at this point lmao

Reply0

LiquidatedNotStirred

· 01-04 19:48

$30,000 TVL is hilarious; it's just a withdrawal machine. To put it simply, it's a playground for airdrop hunters; I really can't see what can be accumulated. Allowing withdrawals instead proves that no one is actually staying in the ecosystem. I've seen many projects like this, and in the end, it's just a mess.

View OriginalReply0

AirdropBlackHole

· 01-04 19:45

Hey, isn't this just the deposit and withdrawal gameplay? After the airdrop, everyone left. Another project with good TVL but poor data; how is the ecosystem supposed to be built? If this continues, even stablecoins won't stay stable. Funds go in and out in a circle, leaving nothing behind, hilarious. Just freeloading after the airdrop, who would genuinely build the ecosystem?

View OriginalReply0

ImpermanentTherapist

· 01-04 19:36

30,000 USD TVL, what can it do? LOL --- Another old trick of deposit and withdrawal for airdrops, the ecosystem is being drained like this --- Coming back from vacation to see this? Feels like Stable is going to cool off --- Without real application support, just harvesting participants --- Funds go in and out, who is actually settling down? This is outrageous --- Run after free airdrops, this is the current routine --- With such a low TVL, is the open withdrawal meant to accelerate exit? --- Concerns about ecosystem vitality +1, I can't see how this project plans to survive --- Why is it always this kind of model? I'm already tired of it --- Deposit for 3 seconds and withdraw, this kind of deal can't be done

View OriginalReply0

JustHereForMemes

· 01-04 19:33

30,000 TVL? Isn't that just an empty shell haha --- Another routine of pumping in and instantly pulling out, ecosystem? Non-existent --- Free airdrops are real, ecosystem development can be forgetten --- I just want to know who the hell is using this, the data says it all --- Funds are completely stagnant, is this project far from a death spiral? --- A typical "we have an ecosystem" but no one actually uses it vibe --- Is this what I see after returning from vacation? Might as well just scroll meme coins

View OriginalReply0

not_your_keys

· 01-04 19:32

Another deposit and withdrawal cycle airdrop trap, a typical self-hype project. Money goes in, spins around, then leaves, leaving nothing behind in the ecosystem. How can it survive? With a TVL of just over 30,000, they dare to open withdrawals? Laughable, this is just ridiculous.

View OriginalReply0