# OnchainNgam

141

💀 FROM $100,000 TO $4,800: IS L2 AN OPPORTUNITY OR A "BUTCHER'S BLOCK" FOR RETAIL?
Take a look at the portfolio evenly distributed across the major L2s at launch: From 100k hours, it still isn’t even down to 5k (-95%). This isn’t because of a "garbage" project—it’s a scenario that has been written in advance by Tokenomics and Narrative.
📊 The truth behind those steep charts:
Unbalanced positions: VCs and the Team hold “cheap” tokens from the parking-lot round.
Narrative trap: Small retail (holders) get pulled into the dream of the “future of Scaling” and “Mass Adoption.”
A money-printing mac

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