Reading this solidifies my viral video from yesterday. Almost feels like this statement was made because of it.
I don’t even need to say anything else, the Abstract team is literally admitting what I called out yesterday.
Can’t make this shit up. Glad they are at least making an attempt to get rid of the gate keeping but tbh at this point TVL down so bad and reputation so cooked idk if this will even make a difference.
Abstract needs a whole new team, not saying Cygaar needs to go I like Cygaar but Phin, Mason & Raj gotta go ASAP or as I said in my video yesterday Blast 2.0 in the making.
Blast had 2B in TVL, Blur amongst many other things WAY WAY bigger than what Abstract is and they died out.
Abstract barely has 20M TVL down 60% from ATHs.
Think about it….
The incompetence of the “marketeers” is killing the chain but it nice to see Cygaar basically openly admit that there was gate keeping with tokens.
Abstract is changing its policy regarding the handling of tokens on the chain.
It's relatively easy for us to curate the apps listed on the Abstract portal because we work closely with each team and know exactly what product they are releasing to users.
Tokens, however, are much more subjective in nature and can often have large amounts of holders that span many different groups. Therefore, we've decided to take a much more hands-off approach moving forward. Tokens will be verified on the basis of objective metrics that we can validate onchain. Abstract team members will no longer comment on specific tokens or their respective teams on any platform.
It made sense to be more hands-on with tokens earlier on, but the Abstract token ecosystem has now grown large enough to self-regulate itself. I'm excited to see this next phase of token growth take off on Abstract driven by the community.
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