Binance has announced three Alpha projects, which is the third one analyzed today RDAC (Non Guang) @redactedcoin @binancezh @heyibinance Keywords: (too long to read summary version) 1. There is a contradiction, institutional investors recognize losses, and there may be differences between the valuation and the actual valuation 2. The project introduction is written too ordinary and lacks any advantages, which does not constitute an opportunity for spot trading on Binance 3. The marketing department of the team is not professional and has a low volume, requiring long-term attention to whether there are improvements and new developments in this area, and even appears amateur 4. Currently, after listing, the trading volume is average and relatively mediocre 5. Suitable for scoring around 0.045-0.05 6. Investor relations may be poorly maintained 7. Pay attention to trading opportunities after listing the Binance future (contract) —————————————————————— I am still very confused about this project. The abstract is actually very general, and theoretically, all projects can be written in this way Based on publicly available data, the public offering round raised $3 million with a financial capital of $70 million. My question here is that the actual delivery should be valued at $60 million instead of $70 million According to the official website, a total of $10 million has been raised, with the remaining $7 million coming from institutional funding At present, the FDV is 50 million US dollars, which is equivalent to everyone admitting losses in the public offering round. —————————————————————— There is actually a contradiction here. A low opening (even lower than the public offering round) means that the institution is losing money. The founder of this project is Animoca's Marketing and Incubator member Marketing&Incubation @Kemuri_eth From the perspective of Marketing, the current review of the project's tweets is very low, even lower than my analysis posts. This to some extent indicates that the current Marketing team is amateur and unprofessional. This needs to be supplemented, otherwise it will constitute the core problem of Binance Spot in the later stage. For more details, please refer to the official Twitter account of the project @ redactedcoin It seems that KOLs haven't been searching properly, they just cleared some Web3 relationship links. In my opinion, it's not that professional here, after all, your investment party is as old as Figure 2. —————————————————————— Due to my doubts about the valuation mentioned above, I believe that the actual delivery valuation for this project will not exceed 45 million US dollars. Therefore, I will proceed with the actual calculation based on this valuation, The current valuation is around 51 million US dollars, which is on par with the valuation. If alpha score boosting users can trade between 45 million US dollars and 60 million US dollars for score boosting, the potential loss should be relatively low. Based on the currently disclosed data and some social media observations, the professionalism of this project is average and requires extra caution in terms of the time loss of long-term investment