TL;DR
Xeet, a SocialFi and InfoFi gamified social platform, is planning to migrate away from the Abstract blockchain.
Key reasons include Abstract’s very low daily DEX volume of ~$1.5M and 84% of its $113M TVL being held by inactive users.
The ongoing departure of multiple projects signals serious concerns about Abstract’s liquidity, active user base, and long-term growth potential.
What Is Xeet? The SocialFi + InfoFi Platform
Xeet is a gamified social platform built on a SocialFi and InfoFi structure, designed to measure real user influence. It features card trading, league tournaments, and competitive social mechanics that set it apart from traditional social apps.
Why Xeet Is Migrating Away from Abstract Chain
Xeet has announced plans to move away from the Abstract blockchain, citing several critical concerns:
- Similar apps like Myriad have already migrated to other chains, signaling a broader exodus.
- Changes to the XP system have eliminated key incentives for users and developers.
- Abstract’s daily DEX trading volume is extremely low at approximately $1.5 million.
- Of Abstract’s $113 million TVL, a staggering 84% comes from inactive users.
Abstract Chain’s Growing Liquidity and Activity Problem
The departure of projects like Xeet highlights deep-rooted concerns about Abstract’s ecosystem health. With weak liquidity, low active user counts, and shrinking growth potential, the chain appears to be struggling to retain builders and communities. As more projects leave one by one, questions around Abstract’s long-term viability are becoming harder to ignore.
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