Arma 3 (https://steamcharts.com/app/107410#3m
Is Asylum actually going to just give up and die off? This is an issue that is unique to Asylum and not as a result of Arma 3 losing popularity. There are serious issues with the economy, player and staff mentality, and factions.
I've asked for the current economy information to offer my suggestion on how to fix it but it never came. Unless we spoon feed solutions (while lacking the necessary information to make these solutions) to devs, then nothing is going to change. The years of development without consideration of its impact on the overall server is the reason for Asylum's demise. Holistically rebalance the entire economy.
Players don't feel like their time is worth in on Asylum anymore. Money making is easy and so is losing it all. Staff don't have the same financial restrictions as players and are disconnected as to the impact of losses in relation to the time spent to get to where they were.
Factions should be oriented such that money making is primarily done through the interaction of other faction members and factions. All factions, except for APD, have methods of making money that does not involve interacting with other factions. Civilian activities only indirectly interact with the APD. AFD only interact with civilians through revives, which each faction has access to. APD won't give AFD the opportunity to revive since their loadouts are cheaper than the cost of a revive.
Essentially, money making should be targeted primarily at the direct interactions of factions. Just because there's a federal event doesn't mean that the APD is going to respond. For APD, add money making that isn't solely oriented on giving criminals the fattest tickets. For the AFD, make the revive far more beneficial over the revive that the APD and Civilian factions have access to. For Civilian, nerf all money making that doesn't involve directly interacting over civilians and factions.
These are only a couple of ideas and there are many more to explore. But, if you want to just roll over and let the server die, then continue what you're currently doing.