What can be inferred from the @ monad TGE incident: 1) The globally renowned high-performance public chain failed to be listed by the largest in the universe, and everyone speculated that it was due to the unresolved issue of the Listing fee. However, the decision not to give Alpha and Holder chips inexplicably made people feel anxious; Originally, so many xxx debuts were the result of so-called top-level project chip allocation games. As for Monad's decision not to compromise, is it a lofty goal or a mistake? The market will ultimately provide the answer; 2) After two months of hype, from the Monad Card to the ceremonious airdrop unboxing, and then to the launch of Coinbase's launchpad, the market's expectations were almost pushed to the ceiling. What was the result? Coincidentally, it caught up with a listing window that was severely damaged in the market. This incident once again confirms a cruel truth: TGE's liquidity time window is ten thousand times more important than any carefully designed marketing strategy. However, upon careful consideration, we are extremely afraid that we actually need a TGE project that doesn't care about the time window. We need a TGE project that can lead the market by relying solely on its own efforts? 3) The current price of MON around 0.03 is much lower than Polymarket's 8B expectation, and even only on par with Paradigm's valuation of 225M. In the previous cycle, everyone could confidently say that they were undervalued, but in this round, they are shouting "another sky dead level" project, but they are afraid in their hearts. If such top tier VCs and teams submit such answers, how will the Crypto industry handle itself? Monad's TGE is not so much the fate of a project as a mirror of the entire industry.