Why Even Promising DeFi Projects Fail: The KongSwap Postmortem

KongSwap demonstrates a critical blind spot in DeFi development: strong technical fundamentals and initial market traction do not guarantee long-term viability. By examining how a well-resourced project with genuine product innovation and ecosystem ambition still lost user trust, this postmortem reveals the structural vulnerabilities in DeFi protocols—particularly the fragility of trust mechanisms and the inadequacy of speed alone.