Most Onchain Activity Is Trash🧶

TPS keeps climbing. More txs, more wallets, more charts to post. Looks like progress. But under the hood it's quest spam, empty swaps, bot farms. Chains look alive but it’s bloat. Do @a16zcrypto @paradigm @dragonfly-xyz not see it? Or do they just pretend not to?⤵️

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A research-driven technology investment firm. https://paradigm.xyz

A cross-border crypto venture fund. Global from day one. >|<

4/6 TPS ain't a signal of health. It's just movement. And when movement's cheap - ppl automate the hell out of it. Quests reward volume, not intent. The chain fills up. Dashboards light up. Feels bullish. But scale without meaning = rot.⤵️

3/6 Blockspace gets used, sure. But most of it's burned on stuff no one needs - txs that bring zero value to the protocol, the ecosystem, or anyone using it. Actions that exist just to exist. Farming makes the network busy. Not better.⤵️

2/6 Every time a new campaign drops, same cycle: thousands of fresh wallets, gas-subsidized txs, onchain noise. It's not engagement. It's stimulus addiction. Dust transfers get called activity. Sybil farms get labeled "growth." Feels like traction. Reads like fraud.⤵️