2026-01-11 10:20:56

Trading volume tells the real story—some platforms just can't get genuine traction. The dependency on continuous token incentives (like seasonal reward programs) becomes the only lifeline keeping things afloat. Once that machine stops, what's left? History shows us that replicating the explosive growth of certain breakout protocols post-incentive phase is brutal. The market dynamics shift. User retention becomes the real test. Most can't pull it off.

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.

16 Likes

Reward
16
10
Repost
Share

Comment

0/400

NotSatoshi

· 01-13 19:11

The death spiral after the incentives stopped is an old trick. Truly viable projects have long since moved beyond relying on token emissions to survive.

View OriginalReply0

UnluckyValidator

· 01-13 16:29

If the incentives stop, the system will fail; such platforms are destined not to grow big.

View OriginalReply0

CryptoGoldmine

· 01-13 09:40

Trading volume data doesn't lie; looking at the hash rate profit ratio, you can see who is swimming naked. --- Once the incentives are withdrawn, it's clear whether the remaining activity in the mining pool is genuine demand or just air. --- From a technological iteration perspective, protocols without a real user base support will eventually have to adjust difficulty. --- In the end, it's still a matter of investment return cycles; short-term incentives built up for prosperity can't withstand the test of time. --- That's why I never chase high volatility; I only look at the growth trend of the hash rate network. --- Projects that continue to burn money to sustain themselves will eventually face bankruptcy in ROI. --- Interestingly, many people can't distinguish between exchange liquidity and genuine trading demand. --- User retention rate is the only true standard to test real value; everything else is just clouds.

View OriginalReply0

GasWaster

· 01-12 19:06

Incentives reveal true nature once stopped; trading volume data doesn't lie.

View OriginalReply0

ProofOfNothing

· 01-11 10:51

Sugar-coated bullets stop and reveal the truth; there are really few who can survive.

View OriginalReply0

GateUser-0717ab66

· 01-11 10:50

An ecosystem that dies as soon as incentives stop has long been exposed. Platforms without genuine demand supporting them will eventually reveal their true nature.

View OriginalReply0

0xDreamChaser

· 01-11 10:50

Basically, it's just that they can't keep going, using incentive drugs to maintain vital signs. Once the injections stop, the patient is gone.

View OriginalReply0

ruggedNotShrugged

· 01-11 10:39

If the incentives stop, it dies, which means there is no real demand at all.

View OriginalReply0

0xLostKey