According to @MikeSilagadze, points-based growth programs must be ready to rotate their entire user base and TVL immediately after the token generation event (TGE) to avoid rapid outflows, signaling acute post-TGE liquidity risk for DeFi projects, source: @MikeSilagadze on X, Sep 5, 2025. He warns that without a concrete post-TGE rotation plan, projects will "bleed out," highlighting potential sharp user and TVL churn that can damage token economics and market performance, source: @MikeSilagadze on X, Sep 5, 2025. For traders, this flags elevated risk around points-to-token transitions and underscores the need to track immediate post-TGE retention mechanics and TVL migration when positioning, source: @MikeSilagadze on X, Sep 5, 2025.