Struggles and Setbacks: Unraveling Edgeware's Blockchain Journey

Edgeware set up its lockdrop to be fair, with a schedule for releasing tokens. Unfortunately, mistakes made by both the creators and the community were a big reason it didn't succeed in the end.

Excessive spending from the Treasury: Edgeware proudly had a community treasury, but unfortunately, it became a target for what can be best described as looting through governance attacks.

Lack of Community Engagement: The community members and council not actively participating in voting created a weakness that opened the door to governance attacks.

Less Utility: The native token of Edgeware had comparatively less utility when measured against other layer-1 blockchains.

Unsuccessful Investments: Unfortunately, the projects funded by Edgeware failed to contribute significant value to the overall ecosystem.

Infrastructure: Edgeware found itself lacking the necessary infrastructure to adequately support developers. Investing a substantial amount of EDG during a bear market for infrastructure proved to be a significant setback for the Treasury.

Exchanges: The Edgeware community spent considerable funds to get listed on certain centralized exchanges. However, realizing the impracticality of such expenses during bear markets, the community opted to cease wasting Treasury resources on market-making, resulting in delisting from these exchanges.

EDG Selling Pressure: The absence of alternative methods to compensate active contributors and proposals, aside from the EDG token, led to a significant monthly sell-off. This constant selling, particularly after each proposal, contributed to a waning interest from new traders.

Competitive Landscape: Edgeware faced tough competition from other blockchain projects offering similar functionalities. Failure to distinguish itself in a crowded market impacted its ability to attract and retain users.

Lack of Developer Adoption: Edgeware struggled to attract a significant developer community. The absence of a thriving developer ecosystem limited the creation of diverse and innovative decentralized applications (DApps) on the platform.

Failure to Evolve Technology: The blockchain space evolves rapidly, and projects need to keep pace with technological advancements. If Edgeware fails to incorporate the latest features and improvements, it could lose relevance in the fast-moving crypto landscape.

Considering these factors, it becomes evident that a combination of technical, governance, and market-related challenges contributed to the struggles faced by Edgeware.

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