$Sapien Despite the centralized trading volume exceeding 100 million, there is almost no activity on the protocol chain. Possible reasons:

The mainnet has not yet opened all functions.

Data provisioning tasks may not have truly gone live on-chain.

Most activities remain on centralized platforms.

Data indexers have not been integrated.

💰 Investors need to be cautious of the ecosystem's 'landing speed'.

Token distribution: Extremely high risk.

The top three addresses hold 85% of the tokens.

The top 25 addresses = 98.5% of the total supply.

A typical 'protocol party & investor control plate', extremely centralized.

Short-term prices can easily be influenced by control plates/funds.