So, I scrolled through X a few days ago, as I always do, and I came across the news that OverProtocol had completely shut down its blockchain and Monad suspension.
Based on my personal experience with this project, it reinforced in me the decline in the Web3 space.
I pushed hard on OverProtocol and Monad because I thought I was early.
With OverProtocol, it started with me daily opening the Over app (originally OverWallet, later renamed OverFlex), claiming my rewards, answering whatever little quiz or check-in they had, collecting points as if my life depended on it. I referred friends and family just to build up those friend cards for referral bonuses.
I remember a friend buying the node setup just to run OverNode 24/7.
I completed every testnet mission, completed partner quests on OKX Cryptopedia, and made sure I passed their Sybil checks.
I was early, consistent, and efficient. My friends and I hyped each other up, hoping for the life-changing airdrop that would finally validate all the hours.
All that… for less than fifty dollars when it finally dropped. Dust!!!
Literally dust after grinding hard.
Then there was Monad.
We treated that testnet like a full-time job. I minted every NFT I could get my hands on, especially grinding the Monadverse collection because they made it clear that those holders would receive something special. I minted Morkies, Monais, Lil Chogstars, the Chog SBTs… you name it.
I was constantly topping up testnet MON from faucets just to pay gas fees for swaps, deposits, stakes, and random transactions across dozens of dApps. I appeared on Cult DEX, aPriori, Primus, and every project that emerged. I did the Layer3 quests, the daily campaigns, and maintained 5-day streaks.
My wallet was active!
I believed the chain was going to explode and reward the true degens who had been there from the start.
In the end? A Gmonad NFT building on Monad worth around $200 which I got from a whitelist was the grand prize after almost a year of gas, time, and energy. Everything else? Radio silence.
And now? OverProtocol completely shut down their entire infrastructure a few days ago, including wallets, nodes, and explorers, all gone due to financial issues.
Monad’s official X account was suspended unexpectedly, although they’ve returned now.
I realised that when entering the Web3 space, 80% of people face some of what I went through, and they check out of Web3 for good.
They simply get tired after showing up, referring, mining, minting, transacting, and believing.