A project with 30 million in funding crashes on mainnet, token plummets 98%, Solana Bitcoin Layer 2 presale raises 29 million with zero vulnerabilities as a contrast

In the crypto world, there was a project that received PayPal investment and raised $30 million, but its mainnet crashed right after launch—user funds were directly locked, and the token price plummeted by over 98%. Although incidents like this aren’t uncommon in the crypto space, it’s surprising to see such a basic mistake from a project backed by such powerful investors, making people wonder what these project teams are actually doing nowadays.

In contrast, there’s recently been a pretty stable Bitcoin Layer 2 project on the Solana ecosystem. It raised $29 million in its presale, and, importantly, its audit report showed zero vulnerabilities, and the technical team seems fairly reliable. Although the official platform won’t launch until 2026, the market actually appreciates this “slow and steady” approach. Given past lessons, people would rather wait than be guinea pigs and pay the price for another project’s mistakes.