Originally thought this market, neither bullish nor bearish, wouldn’t attract many people to participate in @aztecnetwork’s ICO. But just checked, and over 18,000 ETH has already been poured in—roughly $58 million in funding... Honestly, comparing this to other projects with equally impressive fundraising teams like @infinex and @zama, the difference is crystal clear: transparency + no tricks + sharing some benefits with retail investors. Looking at market cap, @infinex’s $300M seems tempting, but in reality, you’d need to accept an FDV above $300M for quick unlocks. If it’s 100% TGE, you’re looking at a $1B FDV. On the other hand, @aztecnetwork launches with 100% TGE. Although the auction FDV is close to $400M now, it’s actually 75% lower than the valuation A16Z invested in previously. Then there’s @zama’s so-called anonymous Dutch auction. Minimum FDV of $55M, claiming to help retail investors save on Gas fees and letting the market decide the valuation. Let me ask one thing: with ETH mainnet Gas fees currently at 0.0x levels, how high can Gas really go? Plus, @aztecnetwork’s auction isn’t much different from a Dutch auction, and I haven’t seen Gas fees spike there either. Not to mention, $55M doesn’t guarantee you’ll even secure a spot. Comparing the three recent projects where people are throwing money, to be honest, I’d rather go with @aztecnetwork—the chances of breaking even and making a profit are much higher than the other two. For an ICO project, whether they’re sincere or not can really be seen directly from the rules. Participants aren’t fools; they know how to calculate things privately.