Opportunities and Mistakes of ZkLend

As a lending platform, ZkLend took advantage of the Starknet craze and tried to become a key player in the cross-chain liquidity ecosystem. However, the platform attracted "profit-seeking" users who only focused on short-term rewards in its execution, failed to build a sustainable ecosystem, and resulted in short-term participation and low retention.

Failure of the airdrop strategy

ZkLend's airdrop strategy further exacerbated the problem. Due to a lack of product awareness, token distribution attracted speculators rather than real users, resulting in:

Airdrop hunters were eager to cash out. Participants lacked loyalty and long-term commitment. Speculators' selling quickly drove down the value of tokens.

Ultimately, airdrops failed to cultivate loyalty, but instead caused a short-lived speculative boom that quickly disappeared.

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