# TVL Related Articles

HTX News Center provides the latest articles and in-depth analysis on "TVL", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Six-Year Evolution of Web3 Airdrops: From Uniswap to Monad, How Should Ordinary People Properly 'Farm Airdrops' in 2026?

Web3 airdrops have evolved significantly from Uniswap's 2020 genesis event, where early users were simply rewarded for protocol usage, to complex systems emphasizing genuine participation, identity verification, and attention economics. Key phases include: - **Phase 1 (2020)**: DeFi airdrops like Uniswap, with no Sybil resistance or tasks—pure reward for usage. - **Phase 2 (2021)**: ENS introduced the concept of "users as shareholders," focusing on governance and contribution. - **Phase 3 (2022-2023)**: Airdrops became growth hacking tools (e.g., Aptos, Arbitrum, Celestia), using multi-tier scoring and cross-ecosystem criteria. - **Phase 4 (2024-2026)**: Points systems (e.g., Blast, EigenLayer) prioritize TVL, duration, and liquidity locking over transaction volume. Future trends indicate: - Chain-level airdrops are declining; ecosystem-level airdrops (e.g., restaking, lending) will dominate. - Rising capital requirements and AI-driven allocation using on-chain reputation and behavior analysis. - A shift from rewards to attention economics, where community influence and identity matter most. For 2026, focus on: - Technical contributions (e.g., testnet nodes). - Completed quests and points systems. - Active community engagement (Discord, social media). - Long-term participation and identity building. Airdrops are no longer just token distributions but tools for user acquisition, governance, and community building. Success requires strategy升级: avoid meaningless farming, contribute value, and maintain a persistent, authentic presence.

marsbit04/09 03:13

Six-Year Evolution of Web3 Airdrops: From Uniswap to Monad, How Should Ordinary People Properly 'Farm Airdrops' in 2026?

marsbit04/09 03:13

Base's Growth Dilemma: Why Did Everything Go Right, But Users Still Leave?

Based on the Japanese philosophical concept of "basho" (a field or place that shapes its inhabitants), this analysis explores why Base blockchain, despite initial explosive growth, is now facing a significant user exodus. Launched by Coinbase in 2023, Base quickly became the fastest-growing Layer 2 (L2) solution, reaching a peak of 1.72 million daily active addresses and $5.6 billion in TVL by late 2025. Its immense distribution power from Coinbase's 100 million users created strong belief it would solve Ethereum's user adoption problem. However, after confirming a token launch in September 2025, active addresses plummeted by 73% to 458,000 by March 2026. The analysis attributes this to Base building a mere "location" for transactions rather than a "basho"—a meaningful context where users form identities and relationships. Its bet on a tokenized creator economy via Zora also failed; 99.7% of created tokens became inactive. The core issue is that financial incentives can attract users but cannot fabricate a genuine reason to stay. Unlike a "third place" (e.g., a community square), which people return to for non-transactional reasons, Base was designed for extraction, leading users to leave once incentives dried up. The piece contrasts Base with chains like Arbitrum and Hyperliquid, which, despite also seeing declines, retained users through unique community identity and experiences rather than mere speculation. The conclusion is that the entire L2 model is cooling, and sustainable growth requires building an irreplaceable ecosystem that shapes user identity—something that cannot be engineered through incentives alone. Base's pivot to a self-custody trading app is a rational retreat, admitting its original vision to create a social, habitable chain failed to materialize.

marsbit04/02 06:07

Base's Growth Dilemma: Why Did Everything Go Right, But Users Still Leave?

marsbit04/02 06:07

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