hmm, well, lombard’s 268k wallets sound impressive, but wallet count ≠ adoption. onchain data suggests many joined during airdrop eligibility spikes likely sybil farmers. question to ask is; 1.) how many hold >$10? 2.) how many return daily? real metrics like tx volume/user and avg wallet value matter more. without the TGE, value remains speculative. infra is strong, but lasting adoption needs more than hype, it needs sticky users, real use cases, and dev traction that goes beyond incentives. not to say i am not bullish, but we don’t just judge by this, especially for an incentive project.