{"ok":true,"data":{"values":[{"id":467,"authorProfileId":23609,"subject":null,"createdAt":1792748333,"duration":172800,"closedAt":1792921133,"cancelledAt":0,"amount":200,"slashType":"SCORE","comment":"Great tech with poor leadership","metadata":"{\"description\":\"| Just for context: I’m not the one who got sidelined and decided to make a slash. I’m the one who was actually deeply involved. Joined Fluffle round and contributed $19000 in the public Sonar sale, with 2650 got accepted\\n\\nMegaETH sold a real vision: 10ms blocks, 100k+ TPS, and onchain apps that could finally feel like Web2.\\n\\nI’m not slashing because the tech's fake. I’m slashing because, outside the sequencer, MegaETH has repeatedly failed at execution, ecosystem retention, and community trust.\\n\\n**1. USDm pre-deposit was an embarrassing operational failure**\\n\\nThe original USDm pre-deposit was marketed with a $250m cap. Instead, users got a broken flow, an early reopening tied to multisig misconfiguration, shifting caps and ultimately a full refund.\\n\\nMegaETH itself admitted execution was \\\"sloppy\\\" and expectations were misaligned.\\n\\nNobody needed to lose funds for this to be damaging. The point was to preload liquidity and build trust before mainnet. Instead, it became the first major lesson that the team could ship elite infra while fumbling basic operations involving hundreds of millions of user dollars.\\n\\n**2. MegaMafia was supposed to prove the ecosystem thesis. It proved the opposite.**\\n\\nMegaETH spent two years supporting roughly 20 teams: engineering, audits, market making, liquidity, fundraising, even operational help. Those teams collectively raised more than $80m.\\n\\nThen MegaETH sunset MegaMafia.\\n\\nThe reason came directly from the team: “most” of the successful apps are no longer being built on MegaETH, and very little of the value created flowed back to Mega.\\n\\nGTE went toward its own chain.\\nNoise launched on Base.\\nHelloTrade went to Monad.\\nIncubated CapApp is non-stop manipulating its own token for months by criming it moves Up and Down\\nthers went multichain or disappeared.\\nBubble map > https://v2.bubblemaps.io/map?address=0x99991c6aabba5a096f24f250b73580f5179b9999&chain=eth\\n\\nThat isn't a small issue. Chain can have the fastest engine in crypto, but if its strongest builders leave once they have options, the ecosystem thesis is broken.\\n\\nThe pivot to first-party apps may be rational. But it is still an admission that the original model - incubate teams, retain them, and let an organic app ecosystem emerge - did not work.\\n\\nP.S. You may say that MegaETH not in charge of the protocols and their behavior, but shouldn't you be in charge of who you adopted?\\n\\n**3. Usage does not match the narrative**\\n\\nAt the time of writing, DeFiLlama shows roughly:\\n\\n- $12.5m TVL\\n- $18.2m stablecoin market cap\\n- 1,885 active addresses in 24h\\n- ≈$499k DEX volume in 24h\\n- ≈$2.2k in daily chain fees\\n\\nThose numbers can change, obviously. But right now they are nowhere near what you would expect from a chain marketed around real-time consumer applications and extreme throughput.\\n\\nMegaETH’s own pitch is 100k+ TPS and sub-10ms blocks. The question is no longer whether it can process activity. The question is why it is processing so little meaningful activity after this much hype, capital, incentives, and ecosystem hand-holding.\\n\\n**4. The USDm flywheel weakens when adoption leaves**\\n\\nThe MEGA value-accrual pitch relies heavily on USDm: rewards generated from USDm reserves are meant to support MEGA buybacks.\\nShould be mentioned, that \\n\\nThat mechanism can be attractive in growth mode. But it also runs in reverse: less USDm and less onchain economic activity means less yield feeding that buyback flow.\\n\\nA token flywheel is not a substitute for a sticky ecosystem.\\n\\nP.S. Good to mention, that at peak, MegaETH's TVL was consisted not from the user's money, it was belong to Ethena, as Ethena deployed $500m USDe in favor to mint USDm. Does it look good if the entire chain's TVL depends on one protocol?\\n\\n**5. Kumbaya was a bad transparency precedent.**\\n\\nThe Kumbaya LP-fee controversy was not necessarily MegaETH core taking users’ money, and I will not misattribute a dApp’s conduct to the chain team.\\n\\nBut it was still a bad look for the ecosystem at a critical moment. LPs said the protocol-fee setup was not clearly disclosed in the UI or available documentation, and they had to inspect the onchain configuration themselves. After public backlash, fees were reduced and refunds were issued.\\n\\nThe issue was not that a protocol charged a fee. The issue was that users believed material economics were being hidden until after the fact.\\n\\nFor a new chain trying to earn long-term liquidity, that is exactly the kind of launch ecosystem behavior that should be caught early - not normalized and fixed only after CT pressure.\\nOnly after they gout caught they lowered fees. If you want to make it right be transparent from the beginning.\\n> https://x.com/0xAsta/status/2049957563924701258\\n> https://x.com/kumbaya_xyz/status/2050247365953724663\\n\\n**6. Awful support its own Blue Chip collection.**\\n\\nNeitizens/World Computer Netizens's the main blue-chip-style collection that has publicly and extensively documented dissatisfaction, centered on zero meaningful support after being recruited, broken promises around Terminal.\\n\\nPublic statement > https://x.com/shiro57102/status/2067653653117485213\\n> https://x.com/washieth/status/2068024540811379028\\n\\nP.S. By the way, after public complaint both were kicked from investor token-gated group chat \\n\\n**Bottom line**\\n\\nMegaETH still has impressive technology. That is what makes this so frustrating.\\n\\nBut great infra does not automatically make a great chain. You need competent operations, transparent ecosystem standards, apps that stay, incentives that do not burn users, and leadership that treats criticism as useful feedback instead of something to route around.\\n\\nRight now MegaETH looks less like the chain that was supposed to out-execute everyone and more like a very fast highway with too few destinations.\\n\\nLast but not least:\\nIf Bob has problems with everyone, maybe it's not everyone else's fault?\"}","attestationDetails":{"service":"x.com","account":"1730321133545922560"}}],"limit":50,"offset":0,"total":1}}