When will SKALE go bankrupt?
The project raised $100M on day one, yet the market cap is now under $18M. TVL is only around $500K and keeps hitting new all-time lows day after day. There is a $7B token supply, no clear buyback strategy, and nobody seems to understand how the burn mechanism actually works. Honestly, nobody knows what is going on.
Meanwhile, SKALE appears to be selling huge amounts of tokens every day. And instead of focusing on how to save the project, the team keeps talking about bullshit and football on Decrypt.
The focus should be on fixing the fundamentals and restoring confidence in the project. If SKALE is going to keep going lower and lower, then please just be honest with the community and explain what the plan is.
From where I’m standing, it looks like more and more capital is being deployed while retail investors are getting destroyed.
Instead of Kladko traveling around the world and, in my view, cashing out, he should be focused on doing the work needed to save the project.