I haven't been paying much attention to market dynamics recently due to my vacation, and it wasn't until a friend reminded me that I realized Stable has already opened withdrawals. To be honest, this matter is indeed a bit confusing.

According to DeFillama data, Stable's current TVL is only a little over $30,000, and there are basically no DeFi applications running in the ecosystem. This is awkward—users deposit funds and then withdraw them, and what is left in the ecosystem after this round of churn? From the data, it’s almost a blank slate.

In my opinion, the biggest gain from this operation sequence might just be giving participants a free airdrop. But in the long run, how much impact can this mode have on the construction of the project ecosystem? That’s really worth questioning. Funds come in and go out, with no accumulation and no support from real application scenarios, the ecosystem’s vitality is in doubt.