This would not be so important if this protocol were not Ethena, which has a TVL of $3.5 billion.
The protocol's revenue fell sharply while the market was in consolidation.
Revenue for the first week of the month:
July 1: $6
July 2: $5,000
July 3: $3,300
July 4: $5,000
July 5: $796
July 6: $4,000
July 7: $27
These data highlight the fact that the protocol so far generates profitability only in a growing market, while collecting pennies during corrections.
If the team cannot introduce updates to maintain the ecosystem, then the project will not survive the next bear, and we will see the second Luna #BinanceTurns7 #BinanceTournament"