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The public chain ecosystem over the past six months has not been very optimistic. Looking at a set of operational financial data, several leading public chains are all burning money.
Worldcoin has an average monthly loss of $3,000, Swellchain about $99 per month, Taiko over $50 per month, Manta Network less than $23 per month, Zora less than $20 per month, Orderly Network with the smallest pressure at an average loss of $5 per month. Mode Network loses about $32 per month.
Looking at this trend, except for Worldcoin's significantly larger loss scale, other public chains are all losing money but the amounts are relatively limited. However, the fact that they haven't turned a profit for six consecutive months still reflects the difficulty of implementing new public chain business models. User growth, transaction activity, and ecosystem development all require time and capital investment. Some projects burn money quickly, some maintain a relatively steady pace, but the collective loss phenomenon is indeed worth paying attention to.
Implementing a viable business model is truly difficult; without LP yields, who dares to enter?
Not even half a year has passed without a turnaround, and this surfing entry point seems a bit forced.
The story of new public chains ultimately remains a game of capital efficiency; burning slowly is also a way of life.
Orderly, with an average monthly cost of 5 bucks, there's no doubt about this mindset—steady and reliable.
Speaking of which, how long will this wave of losses continue?
Capital infusion is ultimately a trap; self-sustaining ecosystems are the real way to go... Unfortunately, they are rare.
The level of loss for Worldcoin is really blowing money like air.
Wait, was this data just released recently? It feels like the market hasn't reacted much.
It looks like we have to keep burning, no room for negotiation.
Although others lost less, it's still ridiculous to not turn around in half a year; this business model needs to be changed.
It seems everyone is betting on the ecosystem to grow, but there are very few that can truly retain users.
Orderly Network losing about $5 a month is somewhat promising.
But honestly, this is the fate of L2 and new public chains—without users, there’s no revenue, and burning money is unavoidable.
Really, Orderly only lost $5 this month. Is this persistence or no one is really using it?
Worldcoin's $3,000 monthly loss—if this pace continues, won't it get rug-pulled? Feels like another show.
Without active trading volume, there's no point in bragging about ecosystem development. Why don't these projects learn from how Solana survived in its early days?
Losing money for half a year and still raising funds—this approach is truly outrageous. If capital stops injecting funds, it's game over in minutes.
This round might really depend on who can last the longest. Burning money is something everyone can do now; the hard part is just staying alive.
It seems Mode and Manta are competing for the title of "most frugal," and others are not far from liquidation.
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Not turning a profit in half a year—what does that say? Still haven't found the right business model.
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These public chains are still competing over who can last longer; burning money also requires a sense of timing.
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Orderly Network losing $5 a month really can't hold on anymore. Is this what they call "cost control"?
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Looking at Worldcoin's scale of losses, it feels like an outlier.
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It's really hard to calculate the money spent on ecosystem development. Investing too much seems desperate, investing too little lacks impact.
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They've been losing money for half a year but still dare to report profits—really brave.
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The question is, do these chains have real users? Burning money is easy, but what about the users?
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How long can Taiko-like speeds last? No clear idea in my mind.
That guy from WC is losing $3,000 a month? This attitude is really extraordinary.
Others are only losing a few dollars a month, which they can still sustain, but losing money for half a year—it's time to think about when they can turn around.
Everyone is waiting for the wind to turn, but whether the wind will blow or not is really uncertain.
Orderly only lost $5? Are you joking?
Public chains that haven't made a profit in half a year should reflect on their business models. The feeling of burning money to stay alive is too obvious.
To be honest, Taiko and Manta are relatively restrained in their pace, unlike some projects where the funds raised have disappeared.
I'm just worried that these small chains might suddenly announce shutdowns one day. What will happen to users' assets?
Losses themselves are not scary; the key is whether they can find a way to generate revenue.
That $3,000 for Worldcoin is really outrageous, others are okay... but the problem is, it's been half a year and there's still no return, that's the truly heartbreaking part.
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Half a year without stopping the bleeding, this business model is indeed worrying, it feels like everyone is betting on ecosystem explosion
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Losing $5 a month in an orderly manner and still claiming to have little pressure, this data itself is already despairing
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Burning money is just burning money, the key is to see the momentum, now everyone is losing money collectively and no one dares to boast
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This is how the crypto world is, initially all about fundraising and burning, waiting for users to grow, but the problem is users are not coming
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Apart from Wormhole, these chains really have no killer app, no wonder they are all bleeding
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Why does it seem like Taiko is still resilient, others should have shut down long ago
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What does that number from Manta Network mean? There’s basically no traffic
Reliable projects do burn through funds slowly, but it's really true that none of them have turned around in half a year.
That 3000 from Worldcoin still needs to be looked at on its own; compared to others, it's really just a drop in the bucket.
So when will we actually see the ecosystem start to take off?
If this continues, I guess some projects will have to be淘汰ed.
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Is the $3000 monthly loss for Worldcoin really serious? Other chains are basically peanuts.
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In simple terms, it's about burning money to buy users and trading volume. The routines are all the same, not much difference.
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Orderly losing $5 a month is truly impressive. Is this sustained effort or do they really have a business?
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I favor those that can control losses. Those that burn money quickly will die sooner or later.
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Not going full-time for half a year is the real problem, not how much is lost.
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Instead of looking at financial reports, it's better to watch TVL trends. These data can be faked.
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More new blockchain graveyards are about to appear. History will repeat itself.