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Now everyone must have given up on $ONE, right? Moving to the Ethereum chain is just euthanasia after the complete failure of the L1 economy. 1. In August, a cross-shard vulnerability was exploited to forge about 3 trillion ONE (which is 200 times the circulating supply). The team had to roll back more than 140,000 blocks, completely destroying the chain's trust foundation. This is another breach of user trust following the 2022 Horizon cross-chain bridge hack by North Korean hackers who stole nearly $100 million. 2. TVL crashed from a peak of $1 billion to $150,000, basically zero; on-chain daily fee revenue is negligible. This time, shutting down the old chain and fully migrating to Ethereum is just a more comfortable way to give up. The fundamentals are dead, and the team will no longer care. On-chain economic activity is dead, market cap has shrunk to the tens of millions of dollars level, validators shut down nodes and took $1.37 million severance pools to become governors. Everyone can disperse, don’t hold any hope.