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The Cookie team suddenly shut down the Snaps feature, leaving creators, event operators, and staking users in distress. The market reacted quickly, with $COOKIE tokens plummeting nearly 11%.
This incident highlights a core issue: when project teams can shut down key product features overnight, user assets and rights are directly exposed to risk. Trust between the team and the community is built on transparency and accountability commitments. Without prior communication, risk contingency plans, or measures to protect user liquidity, even the best ecosystem can become unstable. This serves as a warning to the entire Web3 ecosystem—how important governance transparency and user protection mechanisms are.
Suddenly shutting down core features? That's funny. No prior notice at all. Do they really think we're fools?
That's why I've never been impressed by promises of ecosystem or governance. Promises on paper are torn up when risks arise, just as if they were never made.
Suddenly shutting down core features causes the token price to plummet by 11%. How uncomfortable must the stakers feel... Trust is truly fragile.
It seems these incidents are happening more and more, a pattern of getting on first and running away later? Is it so hard to communicate in advance?
Another textbook-level negative case. The governance aspect needs to be urgently reviewed; otherwise, the reputation of Web3 will be drained sooner or later.
Staking users are directly caught in a trap—that's called risk. But why was there not even a hint beforehand?
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That's why I never heavily invest in new projects, it's just too unethical.
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When Snaps shuts down, the stakers probably get completely devastated; an 11% drop is already quite modest.
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Trust is something that can be shattered completely overnight and can never be glued back together.
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So our assets are just used as chips like this, Web3 is truly incredible.
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Without governance, there's no sense of security. How can anyone dare to push so hard?
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Transparency? That's a joke, this is a textbook example of behind-the-scenes manipulation.
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Creators probably have to cry their eyes out, everything is gone.
A sudden 11% crash overnight, it should have been obvious
Web3 is still the same old trick, trust is the most expensive word
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That's why I refuse to touch projects without governance—an emergency announcement can change the game rules?
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COOKIE's recent move is truly outrageous. If I had known, I wouldn't have staked it. Now I'm at a loss of 11%...
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Promises without transparency are useless. Web3 still needs to protect itself.
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The problem is, this kind of thing will happen again unless there's a real on-chain governance mechanism.
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A 11% plunge is considered polite; once trust is broken, there's no way to glue it back.
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Typical project team shifting blame and shutting down; they won't even communicate in advance. That's why I avoid small-cap coins.
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Staking users suffer the most—funds are still locked, and then the platform just disappears. Truly ruthless.
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So, DeFi DAO governance is just that—more people, but still the same old decision-making power.
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If it were multi-signature control, it might be okay, but single-signature manipulation is truly outrageous.
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The Snaps ecosystem collapsed all at once; so many people's efforts went down the drain. Such a pity.