Not entirely surprising, my gut was telling me something like this might happen. The pre-deposits felt overpowered, the multipliers were questionable, and the overall quality of apps weren't great - these deterred a lot of people.
That said, I do respect the call they've made here.
$MEGA has been in freefall... it's now trading below the recent presale price, and that's with a low float and the Flux commitment program in place. Sunsetting the Terminal rewards here should at least ease some of the future sell pressure.
To be fair to them, it was still early days. Teething issues are expected in a discovery phase like this, and there's an argument they could've turned it around given more time. But we're in a bear market, things didn't go as smoothly as they needed to, and onchain just doesn't have that same energy as the good ol' Blast days.
I still genuinely like
@megaeth as a chain, what they're building toward, the community, and a handful of the apps. I'll be keeping my stables parked in
@PrismFi_ for now (gud APRs), and I'll keep running through
@OffshoreOnMega until I get fully liquidated.
After reviewing the Terminal data, we’ve decided to conclude the season early, and sunset our Terminal program.
The points distribution for Week 3 has gone out as normal and a snapshot has been taken of all user activity up to this point, which will be used in our final calculations. This decision did not come easy, but we believe this is what’s best to support our ecosystem.
Next week, we'll run a supplemental points distribution to thank all users who have been exploring and experimenting with the different apps throughout the program.
Eligible Terminal participants will receive a share of the rewards pool in USDM, based on the points accumulated to date as well as activity that supported Mega.
Early next week, we'll open a place on Terminal for one week so you can designate a wallet address to receive your rewards.
Terminal’s main features will be merged with Rabbithole, transitioning everything into one unified chain experience.
Thank you to everyone who has supported us this far. We can’t wait to show you what we have in store.
A note from Shuyao on what’s next: