Story [IP] experiences a major drop in user count by 88% – analyzing the causes

Story IP reported an alarming 88% fall in daily active users, dropping to 1,600 from over 13,000. An audit revealed vulnerabilities in the smart contracts, triggering a panic sell-off amounting to approximately 810,000 USD.

Decentralized exchange volume for IP plummeted to a multi-week low of 303,000 USD, alongside a notable decrease in Total Value Locked (TVL), indicating reduced participation in staking.