🚨 a16z bets big, three-year testnet—
Did Linera still fall just before the $1.5 million threshold?
Once a star public-chain project:
⭐ a16z invested in two consecutive rounds
⭐ Total funding: $12 million
⭐ The testnet has been running for years
⭐ Points, badges, and Discord roles attracted a large number of participants
Many people expected: “After the mainnet launches, will there be a large-scale air drop?”
But reality delivered a huge contrast:
According to community information, the final subscription amount for Linera’s LNRA community round was about $848,000, failing to meet the target threshold; subsequent financing couldn’t ease the funding pressure, and the team announced it would stop operations.
After three years of testnet participation—
thousands of interactions, countless task points—
for some users in the end, the result was:
❌ Air drop expectations fell through
❌ Returns didn’t materialize
❌ The project stopped moving forward
This incident once again sounds an alarm for the industry:
🚀 VC endorsement ≠ project success
🚀 Testnet hype ≠ real user demand
🚀 Air drop expectations ≠ long-term value
The real competition among public chains isn’t just technical storytelling.
More importantly:
✅ Do you have real users?
✅ Do you have commercial revenue?
✅ Do you have a continuously growing ecosystem?
✅ Do you have self-sustaining “cash-blood” capability?
In recent years, the market has gotten used to chasing the “next star public chain.”
But in the future, the projects that truly last may not be the one with the prettiest story,
but the one that can continuously create value.
Web3 is entering its next phase:
From “traffic-driven,” to “value-driven.”
What do you think? What is the biggest moat of a public-chain project?
#比特币两度受阻87300美元
$BTC

$ETH

$BNB